Platinum is extremely undervalued. In fact, it is more undervalued than silver or gold. Currently, platinum’s market value is less than the cost to produce. Although gold’s production cost is lower than platinum’s production cost, and platinum is 30 times rarer than gold, the yellow metal’s current market value is over twice the market value of platinum. The current market value combined with platinum’s supply deficit, which is expected to continue through the remainder of this decade, point to a rise in value moving forward. Platinum is a key component to the clean air agenda and with the growing demand in hydrogen energy applications, demand should remain strong moving forward.
With the current supply deficits, platinum currently offers the best upside potential when compared to gold, silver, and palladium. For example, if global production of gold and platinum were to end today, the above ground reserves in gold would last approximately 250 years, and platinum’s reserves could only last approximately one year. If you’re looking to buy low and sell high, platinum currently makes a lot of sense for a lot of reasons.
Market Demand
Platinum coins are utilized to protect against inflation. Sovereign mints produce platinum coins that are designated as legal tender and accepted in barter around the world. Platinum is also used in jewelry, glass, catalysts, chemical compounds, healthcare, catalytic performance, electronics, hydrogen fuel cell power. Platinum is considered a key component to the global push to green energy products. Based on the many different applications platinum is utilized in, it looks like demand will continue to be strong moving forward.
Platinum Forecasts
1) According to tradingeconomics.com, platinum is expected to trade at $1165.43 within 12 months.
2) According to longforcast.com, platinum is expected to reach $1341 in 2026. According to tradingeconomics.com, platinum is expected to trade at $1165.43 within 12 months.
3) According to coinpriceforecast.com, platinum is expected to increase by approximately 70% within the next five years.
4) According to FXLeaders.com, platinum is expected to reach $1272 per ounce in 2023, and $1,400 per ounce in 2024, and $2,000 per ounce within three years.
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