China May Push Platinum Prices by the end of 2015

MarketWatch reported that according to Capital Economics, China will push platinum prices to $1400 an ounce this year.

As quoted in the market news,

Platinum prices PLN5,-1.08%  should reach $1,400 by the end of this year, “supported by resilient Chinese demand,” forecast Caroline Bain, senior commodities economist at Capital Economics, in a note issued Thursday.

July platinum settled Thursday at $1,136.70 on Comex, so the forecast would represents a climb of about 23% from the current price. Platinum futures have fallen by about 6% so far this year after tallying a combined loss of 23% in 2013 and 2014.

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