USDJPY
EURUSD
others
Platinum hits $1,800, highest since 2011 – Commerzbank
Key Takeaways (30s Read)
Platinum prices soared above $1,800, the highest since 2011, driven by demand prospects.
Recently, platinum and palladium prices have surged. This movement is driven by the record-high levels of silver and gold and the prospects of increased demand from the European automotive sector. Commerzbank's commodity analyst Carsten Fritsch highlighted the easing indications of the 2035 combustion engine ban as a significant factor boosting demand. Platinum has now surpassed $1,800, marking the highest price since 2011. This reevaluation of the metal's importance in the automotive industry could bring rapid changes in the metal market, necessitating careful monitoring by investors.
AI Analyst
AI Opinion
"The surge in platinum prices is strongly supported by record levels in silver and gold, coupled with expectations of increased demand from the European automotive market. The easing of the 2035 combustion engine ban is likely to have a positive impact on platinum demand. Given this context, the platinum market appears bullish in the short term, yet it is essential to remain cognizant of long-term trends as well. However, rapid price fluctuations come with inherent risks, reminding traders to proceed with caution."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.