"Platinum price on pace for 20% quarterly gain, its biggest since 2008"

" \r\n \r\n \r\n Platinum price on pace for 20% quarterly gain, its biggest since 2008 \r\n\r\n \r\n \r\n\r\nDue to ongoing supply concerns, platinum prices have surged more than 20% over the past three months, and the precious metal is now set to experience its best quarter since the start of 2009.\r\n \r\nOn Friday, platinum prices rose another 1.0% to $1,064.50 per ounce, bringing its quarterly gain to just under 23%.\r\n\r\n \r\n \r\n \r\n SIGN UP FOR THE PRECIOUS METALS DIGEST \r\n SIGN UP \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\nShould the price of platinum maintain its 20% uptick, then this will will be the biggest quarterly increase since the first quarter of 2008, when it gained a staggering 34%.\r\n\r\nAccording to the World Platinum Investment Council, top consumer China has imported excessive amounts of platinum metal since 2019, which has left a limited above-ground supply for the rest of the world.\r\n\r\n\u201cThis, in combination with higher prices likely being needed to release Chinese inventories to the domestic market, could have a significant bearing on platinum market price discovery,\u201d the Council wrote in its\u00a0 Platinum Perspectives \u00a0report in December.\r\n\r\nThe Council is anticipating a platinum deficit in 2023, with demand growing by 19% while supply increasing by just 2%.\r\n\r\n\u201cDespite international economic turbulence, with many countries already in, or expected to tip into, recession, industrial demand for platinum will be up 10% compared to 2022, which exceeds the 10-year average,\u201d the WPIC said in a press release.\r\n\r\nDemand for platinum in the automotive industry will also continue to grow next year, while jewelry-based demand for platinum is forecasted to remain constant throughout 2023, the WPIC added.\r\n\r\nAccording to\u00a0 Reuters\u00a0 data, platinum is by far the best-performing precious metal in 2022, recording a year-to-date gain of 9%. Over the same period, gold has lost around 1%, silver up around 3% and palladium down 4%.\r\n\r\n \r\n \r\n \r\n "

"Platinum price on pace for 20% quarterly gain, its biggest since 2008"

Poor Governance Offsetting Reform Gains in Africa – World BankAMP

Nigeria’s NNPC Considers Refinery Sale Despite Billions Spent on RepairsAMP

Africa’s Largest Diamond Producer to Let Currency Depreciate QuickerAMP