Bearish
Platinum price drops 5% to $1,798.96 after surplus forecast revision.
The World Platinum Investment Council (WPIC) revised its 2026 outlook, shifting from a projected deficit of 297,000 ounces to a surplus of 265,000 ounces. This significant change, driven by reduced investment demand, led to a 5% decline in platinum prices, bringing them down to $1,798.96.
Key points
- WPIC's 2026 outlook now anticipates a surplus of 265,000 ounces, a reversal from the previous deficit forecast.
- Investment demand is expected to decrease by approximately 18% in 2026, with a notable reduction of 601,000 ounces in investment demand.
- Industrial demand is projected to increase by 5%, and jewelry demand is expected to decline by 15%.
- Despite the surplus, above-ground stocks remain low, with only about 3.4 months of demand cover by year-end.
Sources
AI-generated from public news sources. Not financial advice.
