Platinum (XPT/USD) is currently trading below $900. Economists at Commerzbank have lowered their forecast to $1,000 by the end of the year.
Platinum is suffering from continued sell-off by ETF investors
“We are lowering our year-end price forecast for platinum to $1,000 ( Previously at $1,050).”
“Platinum has also been affected by continued selling by ETF investors. These totals have now exceeded 400,000 ounces since the beginning of the year. As a result, the platinum market this year has The oversupply situation may be worse than previously expected.”
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