In this presentation Jeffrey Christian of CPM Group looks at platinum’s price surge over the past few days from $1,041 at the start of June to as high as $1,232 on June 10th.
Jeff discusses the real reasons behind the spike, misunderstood fundamentals, jewelry demand, optimism around auto catalyst demand. He also discusses the large surpluses, not deficits, in new platinum supply, explaining the reasons behind discrepancies in market commentary. He reviews the role of aboveground inventories, and how investor behavior, not fabrication demand, has often driven price spikes in the past.
The presentation concludes with a look at gold and silver markets, and why June 9th was a very strange day for the precious metals.
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