Platinum prices expected to rise in 2013 due to lack of supply

Platinum prices expected to rise in 2013 due to lack of supply

Analysts said during a conference yesterday for the platinum industry: The metal prices could rise in 2013 with the absorption of the limited supply markets of South Africa, President of the metal product, will pay the price of platinum to override the price of gold. South Africa contributes 80 per cent of the Offered platinum, and producers saw a sharp decline in production over the past year, due to labor strikes and stoppages imposed by the government, for reasons of safety factors, pushed prices to their highest level in more than three months. Said Jeremy East, director of metals trading in the "Standard Chartered Bank" on the sidelines of the World Gold in India: The two main producers may begin to close mines, due to high labor and energy costs, according to "Reuters". East said: "In terms of fundamentals, we are betting on rising platinum, and we feel that South Africa's mines will be forced to stop production, so the supply will decrease."
East said: The price of gold may rise to 1750 dollars per ounce, up 5 per cent from current levels by (December) due to concerns about the euro zone and the expected economic stimulus plans.
Said جيفيري Rhodes director of precious metals trading at "Intl" commodity: The premium for platinum with gold will reach $ 200 an ounce in six months due to a sharp increase support on supply concerns. Rhodes said on the sidelines of the exhibition: "Over the past three months: we have seen platinum at prices much lower than gold, up to and including $ 200, which is illogical, especially for the exhibition of metal in the supply shocks."

And at least platinum price is currently $ 144 per ounce for gold, have white metal prices rise to two thousand dollars by the end of December (December) Rhodes said. He said: "The real opportunity lies in trading of platinum versus gold. Do not see any justification for the low price of platinum for the price of gold"