New Industry Body to Stoke Investment Demand for Platinum

According to Reuters, a new industry body being formed to encourage investment demand for platinum is set to launch later this year. The body, which will likely be based in London or Johannesburg, will be called the World Platinum Investment Council.

As quoted in the publication:

Banking sources told Reuters that industry executives had met with London banks in July to discuss the council.

In a speech in August, Amplats chief executive Chris Griffith said the industry would be launching a body to promote investment demand. He said $13 billion of platinum is held as an investment, a significant amount despite limited promotion by the industry but still far lower than investment holdings of gold.

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