October-November Platinum Market Review
2018-05-24 22:28:14
Price Trend Analysis 1.1 International Platinum Price Breaks Through 1800 US Dollars In early 2010, with the continuous recovery of the global economy and rising consumer confidence, global vehicle production continued to increase, driving demand for platinum, and the new Platinum ETF in New York triggered a large amount of investment demand. After the Greek debt crisis erupted, platinum was used as a hedging product and the price was pushed up to more than $1,700 per ounce. After May, the debt crisis in Europe has become increasingly severe, which has hit investor confidence. Platinum prices have fallen below $1,500/oz. From June to August, the platinum price was adjusted between 1,500 and 1600 US dollars per ounce. At the end of August, due to the demand of manufacturing industry and the influence of miners in South Africa, the price of platinum rose linearly from the support level of 1,500 US dollars per ounce. In early October, it exceeded 1,700 US dollars per ounce.
In October, the price of platinum rebounded slightly under the resistance of 1,720 US dollars per ounce, and was oscillated between 1,650 and 1,700 U.S. dollars per ounce. With increased consumer confidence, the proportion of gasoline locomotives in the European market has increased and platinum consumption has been promoted. From the end of October to the beginning of November, the U.S. dollar fell again, to a minimum of 76, and investors returned to the precious metals. In November, the Federal Reserve Bank announced the launch of the second round of quantitative easing monetary policy. It will soon purchase 600 billion U.S. Treasury bonds within eight months, leading to rising commodity prices from energy to agricultural products to metals. Crude oil prices rose to nearly 90 US dollars / barrel, and there is a tendency to continue rising. The price of gold exceeded US$1,400 per ounce, and platinum was again affected by this influence. On November 9, it stood at US$1800/oz, with the highest transaction price being US$1805.5/oz, and hitting a new high since the end of 2008.
However, platinum prices did not remain high for a long time. In the second week of November, platinum prices fell sharply. By mid-month, platinum prices lost nearly 200 US dollars and the lowest was close to 1,620 US dollars/ounce, which was the lowest since September. Compared with other precious metals, platinum's performance is very dim, although at the beginning of the month reached a high of 1806 US dollars / ounce, but there is still a big gap from the historical high in 2008. Gold, silver, palladium, etc. have already exceeded historical records (palladium is a 9-year high).
In late November, while other precious metals increased significantly, platinum prices shrank, mainly trading in the 1630 to 1670 US dollars/ounce range. The influencing factors of platinum prices are relatively complex. One of the reasons for the weak performance in the middle and late November is the gradual strengthening of the US dollar. In addition, debt crisis continues to occur in some European countries. It used to be Greece. Ireland subsequently received emergency assistance from the European Union. The debt situation of Portugal, Spain, Belgium and other countries is worrying. This has affected the demand for cars in Europe, while the proportion of diesel cars in European cars accounts for about half, which has a greater impact on platinum demand.
1.2 The price of domestic platinum rises. From late May to August, the platinum price mainly oscillates at 340-360 yuan/g. Starting in August, the platinum market began to recover from the downturn. Affected by higher international platinum prices and good domestic demand, domestic platinum prices have risen. At the end of September, the price of platinum rose to nearly 370 yuan/g. After the National Day, domestic platinum prices increased. On October 14, the platinum-weighted price of the Shanghai Stock Exchange has risen to 381.28 yuan/g. In late October, the price of platinum slightly adjusted downwards, and the main trading range was 370-380 yuan/g. In early November, driven by the rise in gold prices, platinum prices rose sharply again. On November 5, the daily price rose by 11.3 yuan to 393 yuan/g, and on November 9 it reached 393.6 yuan/g, which was close to the rebound of 397.22 yuan/g set at the end of April. recording. As the U.S. dollar rose, the price of platinum fell in the second half of November. The lowest price rose to 365 yuan/g at a time. In early December, driven by the outer disk, platinum prices returned to the 380 yuan/g mark.
In October, the price of platinum rebounded slightly under the resistance of 1,720 US dollars per ounce, and was oscillated between 1,650 and 1,700 U.S. dollars per ounce. With increased consumer confidence, the proportion of gasoline locomotives in the European market has increased and platinum consumption has been promoted. From the end of October to the beginning of November, the U.S. dollar fell again, to a minimum of 76, and investors returned to the precious metals. In November, the Federal Reserve Bank announced the launch of the second round of quantitative easing monetary policy. It will soon purchase 600 billion U.S. Treasury bonds within eight months, leading to rising commodity prices from energy to agricultural products to metals. Crude oil prices rose to nearly 90 US dollars / barrel, and there is a tendency to continue rising. The price of gold exceeded US$1,400 per ounce, and platinum was again affected by this influence. On November 9, it stood at US$1800/oz, with the highest transaction price being US$1805.5/oz, and hitting a new high since the end of 2008.
However, platinum prices did not remain high for a long time. In the second week of November, platinum prices fell sharply. By mid-month, platinum prices lost nearly 200 US dollars and the lowest was close to 1,620 US dollars/ounce, which was the lowest since September. Compared with other precious metals, platinum's performance is very dim, although at the beginning of the month reached a high of 1806 US dollars / ounce, but there is still a big gap from the historical high in 2008. Gold, silver, palladium, etc. have already exceeded historical records (palladium is a 9-year high).
In late November, while other precious metals increased significantly, platinum prices shrank, mainly trading in the 1630 to 1670 US dollars/ounce range. The influencing factors of platinum prices are relatively complex. One of the reasons for the weak performance in the middle and late November is the gradual strengthening of the US dollar. In addition, debt crisis continues to occur in some European countries. It used to be Greece. Ireland subsequently received emergency assistance from the European Union. The debt situation of Portugal, Spain, Belgium and other countries is worrying. This has affected the demand for cars in Europe, while the proportion of diesel cars in European cars accounts for about half, which has a greater impact on platinum demand.
1.2 The price of domestic platinum rises. From late May to August, the platinum price mainly oscillates at 340-360 yuan/g. Starting in August, the platinum market began to recover from the downturn. Affected by higher international platinum prices and good domestic demand, domestic platinum prices have risen. At the end of September, the price of platinum rose to nearly 370 yuan/g. After the National Day, domestic platinum prices increased. On October 14, the platinum-weighted price of the Shanghai Stock Exchange has risen to 381.28 yuan/g. In late October, the price of platinum slightly adjusted downwards, and the main trading range was 370-380 yuan/g. In early November, driven by the rise in gold prices, platinum prices rose sharply again. On November 5, the daily price rose by 11.3 yuan to 393 yuan/g, and on November 9 it reached 393.6 yuan/g, which was close to the rebound of 397.22 yuan/g set at the end of April. recording. As the U.S. dollar rose, the price of platinum fell in the second half of November. The lowest price rose to 365 yuan/g at a time. In early December, driven by the outer disk, platinum prices returned to the 380 yuan/g mark.