Above-ground Platinum Stocks Will Not Reach Zero, WPIC

Mineweb reported that the World Platinum Investment Council predicted that ground inventories of platinum are not likely ever to reach zero.

As quoted in the market news,

Sizeable above-ground stocks are often cited as the primary reason for platinum’s failure to react to the current fundamental deficit.

Prices are now down 50 percent at $1,150 since the all-time peaks hit in 2008 at $2,300. The metal recently struck its lowest since the post-peak crash during 2008/2009 at $1,080 per ounce.

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