Platina is already giving up some of its August gains – Commerzbank

While the price of palladium continued to extend its gains in August, platinum appears to have run out of steam again: Yesterday, platinum fell below $950 per troy ounce, notes Commerzbank analyst Barbara Lambrecht.

Platinum runs out again

“At first glance, Europe’s new car registration figures did little to lift spirits. In July, only 0.2% more cars were registered than in the previous year. In the first seven months as a whole, however, growth was just under 4%.”

“On a positive note, sales of hybrid vehicles, where Platinum is increasingly used, according to the World Platinum Investment Council, continued to grow: growth here was 25%, which is even slightly more higher than the average growth rate for the first half of the year.”