Automotive demand for platinum increased 12% in 2022, largely because of a 28% increase in the manufacture of hybrid vehicles. Global automotive demand is expected to increase by another 10% by the end of the year. Other industrial demands are expected to rise 12%, much from LCDs, the glass industry, chemicals, petroleum and electronics.
Although platinum has been a fairly flat market over the past two to three years, a recent World Platinum Investment Council Report says the balance of supply and demand is turning in platinum’s favor in 2023. “After two years of significant surpluses, the platinum market is forecast to move to a material deficit in 2023,” the report said.
The market will move from a 776,000ounce surplus in 2022 to a 556,000ounce deficit in 2023, a swing of over 1.3 million ounces in a narrowly traded metals market.
PLATINUM BAR & COIN DEMAND EXPECTED TO DOUBLE
The biggest demand growth is forecast for investments. Platinum bar and coin demand are forecast to double to 450,000 ounces this year, although platinum Exchange Traded Fund (ETF) outflows may cut into that rise. There should also be a huge demand for platinum jewelry in China, which will now be wide open for pent-up consumer demand this year and next. Jewelry demand is expected to rise 15% in China. Smaller growth rates are expected in Japan and India.
Platinum closed 2021 at $968, and it closed 2022 at $1,031; so it managed a 6.5% gain despite a strong U.S. dollar for most of the year. Platinum was rescued when the dollar started to fall in the fourth quarter of 2022.
Esta historia es de la edición June - July 2023 de COINage Magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June - July 2023 de COINage Magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
John F. Kennedy Half Dollar Turns 60 - Memorializing a presidency cut short
The attempt on former U.S. President Donald Trump's life at a campaign event in Butler County, Pennsylvania, on July 13, 2024, could have been more significant than it was. Trump's ear was clipped, but the 45th president survived.The last time a sitting or former U.S. president survived an attempted assassination was in 1981, when a man obsessed with actor Jodie Foster shot the recently inaugurated President Ronald Reagan, who survived the attack. Sadly, there was no similar good fortune for President John F. Kennedy nearly 20 years earlier. One of the darkest days in American history occurred on Nov. 22, 1963, when a lone gunman drew his weapon and assassinated President Kennedy during a motorcade procession in Dallas, Texas
What Are Semi-Numismatic Coins?
COINS WORTH MORE THAN THEIR WEIGHT IN GOLD
Charles C. Anderson, Sr.
NUMISMATIST OF THE CENTURY
COINS WITH MAGNIFICENT COLORS
GUIDE TO ORIGINAL TONING
John West Dannreuther
NUMISMATIST OF THE CENTURY
Today's News is Tomorrow's Coinage
COINS AS HISTORY IN YOUR HANDS
David Hall's Greatest Idea?
REGISTRY SET CONCEPT EXPANDS COLLECTING
Kagin, McCarthy SWEEP CONTEST
NUMISMATIC LITERARY GUILD TOP 2 BOOK PRIZES AWARDED
GOLD COINS IN DEMAND
FEVERISH BUYING AT $2,500 AN OUNCE
Stack's Bowers Appoints John Kraljevich as Director of Numismatic Americana
Stack's Bowers Galleries announced the appointment of John Kraljevich, COINage numismatist of the century, to the newly created position of director of numismatic Americana. Kraljevich, proprietor of John Kraljevich Americana since 2007, has been recognized time and again for his scholarship, expertise and leadership.