The prices of Platinum witnessed steady fall during the past six months, falling all the way from levels as high as $1,550 per oz down to $1,420 per oz. The falling gold prices injected weakness in other precious metal class including Platinum. According to HSBC–the multinational banking and financial services company–the future does not look as gloomy, primarily due to the tightening supply from mines and the rebounding European auto market.
HSBC forecasts 7% growth to Platinum prices over the year to average at $1,595 per oz during 2014. The bank also forecasts the prices of Platinum to rise 16% year-on-year to $1,850 per oz in 2015.
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