Commerzbank: Platinum is on Course for Strongest Yearly Gain in 40 Years
A new report shows that the price of platinum has surged by over 80% since this year began. This puts the metal on pace for its strongest annual performance since exchange trading started nearly four decades ago. This year’s peak occurred in October at slightly above $1,730 a troy ounce and was nearly matched again at the start of this month, marking the highest level seen since 2013. According to Carsten Fritsch, a commodity analyst at Commerzbank, the metal’s rally has been fueled by two primary drivers: increasingly tight supply-demand balance and the metal’s undervaluation relative to gold. Fritsch explains…