Barclays Capital lowers Price Forecasts for Platinum and Palladium

Mineweb reported that Barclays Capital has lowered its price forecasts for 2015 due to the weaker-than-expected Chinese consumption of platinum and palladium.

As quoted in the market news,

The broker now sees platinum averaging $1,239 per ounce this year after the spot price fell to its lowest since July 2009 below $1,100 in the first quarter. Spot platinum was last at $1,134/1,139, down $5 loss on Tuesday’s close.

It also expects palladium to average $805 in 2015 given its weaker start to the year. It recently traded at $737/742, up $4.

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