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| ANZ Bank Economists Expect Platinum to Reach $1,250 by End of 2023 |
ANZ Bank economists predict that Platinum will experience gains this year and reach $1,250 by the end of 2023. According to the experts, improving auto sector growth, higher loadings, and a shift away from Palladium will be the driving forces behind the metal's success.
The demand for auto catalysts is projected to increase by 5% YoY, with constrained supply and robust demand potentially causing a deficit of 145 koz in the market. This, in turn, could lead to stronger investor activity and a rise in ETF holdings by 300 koz this year, following two years of outflows. Despite this optimistic outlook for Platinum, ANZ Bank holds a long-term negative view on Palladium due to weakening auto catalyst demand.
