PRECIOUS METALS

PGM outlook sensitive to geopolitical issues

THE 2023 trajectory of platinum group metals, or PGMs – of which South Africa holds the vast amount of world reserves – is due to be impacted by Vladimir Putin’s ongoing war, the global economic conditions, and the pace of the rollout of both internal combustion engine and electric vehicles.

WPIC noted that with Putin’s war on Ukraine still rumbling on, Russian PGMs are still reaching the market.

WPIC noted that with Putin’s war on Ukraine still rumbling on, Russian PGMs are still reaching the market.

On the price front, platinum is expected to be rangebound amid the conflicting pressures of a widening supply deficit and a forecast bearish gold price, research consultancy Metals Focus said. "In contrast,...

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