Platinum to End 2013 at $1,690 an Ounce

Bloomberg reported that as platinum miners limit supply, demand for the metal is increasing. It is expected to end the year at $1,690 per ounce, up 16 percent from its current price.

As quoted in the market news:

‘Anybody who wants to participate in precious metals, that’s getting whipsawed like on gold, is looking at much smaller precious-metals markets as being attractive,’ said Jeffrey Sica, who helps oversee more than $1 billion of assets as president of SICA Wealth in Morristown, New Jersey. ‘If you look at platinum and palladium, even with an economic slowdown, they’re able to maintain healthy levels of demand.’

Click here to read the full Bloomberg report.