The Conversation (0)
In an article for Mineweb, Kip Keen wrote that some analysts are seeing platinum as oversold. Platinum has fallen to less that $1,300 per ounce since fears of a supply crunch have waned. Still, there was some silver lining.
In an article for Mineweb, Kip Keen wrote that some analysts are seeing platinum as oversold. Platinum has fallen to less that $1,300 per ounce since fears of a supply crunch have waned. Still, there was some silver lining.
As quoted in the publication:
So, while PGM-watchers haven’t writen off more price pain, they tend to favour some bottom or near-bottom in the price of platinum forming at the moment. “While it is still hard to call a bottom, we think the selloff has largely run its course,” Standard Bank’s Charles De Wet recently remarked to the WSJ (paywall). Likewise, UBS has told clients that platinum below $1,300/oz is a “buying opportunity.” And in the same vein, HSBC’s James Steel said that at current prices the precious metal is oversold.