Platinum Price to Average $1,500 per Ounce in 2016

Mining Weekly reported that French Bank Natixis SA (EPA:KN) predicts that the platinum price will average $1,500 per ounce in 2016 and $1,285 per ounce this year.

As quoted in the market news:

Platinum is currently trading at a far lower $1 147/oz with recycled metal and above-ground stocks still playing a price-restraining role.

The outlooks come against the background of the mined supply of refined platinum dropping 11% year-on-year in 2014 and the Russia-Ukraine crisis driving up palladium prices, which Natixis expects to average $740/oz in 2016.

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