Platinum Market Volatility: Platinum has experienced significant volatility, with a record intraday price surge of 6.4% to $1,646 per ounce, following the announcement of the phase-out of a long-standing tax benefit in China, the largest consumer of platinum.
Impact of Tax Rebate Removal: The removal of the value-added tax rebate for platinum imports in China is expected to create a more competitive market, as it previously favored China Platinum Co. This change has led to increased premiums in Shanghai and speculation about buyers securing metal before the deadline.
Supply and Demand Dynamics: The platinum market is facing a structural deficit, with nearly 90% of production coming from South Africa. Despite rising prices, supply has not increased significantly, and demand, particularly from China, continues to grow, especially in jewelry and investment sectors.
Investment Performance: The abrdn Physical Platinum Shares ETF has seen a substantial increase of 78.33% year-to-date, reflecting the strong performance of platinum as a commodity amid tight market conditions.
Wall Street analysts forecast PPLT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PPLT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast PPLT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PPLT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 226.300
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Current: 226.300
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
