Shrinking Inventories Position Platinum for Price Gains
Platinum prices have recently lost some momentum and remain below the $2,000-per-ounce level despite an earlier rally. However, market fundamentals suggest the metal could still be positioned for stronger gains ahead as tightening supply and declining inventories continue to support its outlook. According to the World Platinum Investment Council (WPIC), the platinum market is expected to record its fourth straight annual supply deficit in 2026. Demand is projected to exceed supply by about 297,000 ounces, while above-ground stockpiles are forecast to decline to roughly 1.7 million ounces by the end of this year. This volume makes up less than three months of worldwide demand, highlighting a growing supply imbalance. The council’s CEO, Trevor Raymond, stated that platinum continues to offer an attractive…