Platinum price forecast: positive backdrop signals further upside ahead

The price of platinum has surged above its pre-pandemic highs since 2021 started, as the imbalance between demand and supply levels has kept the post-pandemic bull run going.

With Covid-19 restrictions and a weaker dollar knee-capping suppliers’ capacity to deliver higher volumes, along with higher demand coming from the automotive industry and from investors seeking to hoard precious metal amid inflation worries, the short-term platinum price outlook remains positive, although traders should keep an eye on how certain factors that are currently influencing the price will behave in the coming months.

Here’s a platinum price forecast – a closer look at the catalysts that are driving the uptrend to get a sense of the direction of the platinum price in 2021.