Latest Breaking News On - Sprott physical platinum - Page 6 : comparemela.com
March 9, 2021
When it comes to precious metals and the clean energy equation, silver gets most of the attention, but there’s utility with platinum and the
SPPP provides “a secure, convenient and exchange-traded investment alternative for investors who want to hold physical platinum and palladium. The Trust offers a number of compelling advantages over traditional exchange-traded platinum and palladium funds,” according to the issuer.
“As the coronavirus pandemic brought worldwide economies to a standstill in 2020 platinum demand fell by one million ounces, according to the World Platinum Investment Council, an industry group,” reports Pippa Stevens for CNBC. “But supply fell by 1.3 million ounces amid Covid-related disruptions as well as outages at some key plants. Ultimately platinum demand which averages about eight million ounces per year was pushed into a deficit.”
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Why the Commodities Supercycle Will Be Huge for This Multi-Metal Trust February 18, 2021
Some commodities market observers are discussing the potential arrival of another supercycle, and while it’s not official yet, investors can prepare for the event with products like the
Sprott Physical Platinum and Palladium Trust (NYSEArca: SPPP).
SPPP provides “a secure, convenient and exchange-traded investment alternative for investors who want to hold physical platinum and palladium. The Trust offers a number of compelling advantages over traditional exchange-traded platinum and palladium funds,” according to the issuer.
The fund merits consideration in a supercycle scenario because palladium and platinum would likely be two of the most responsive commodities.
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Compelling Catalysts for SPPP
Last week, platinum-related exchange traded funds surged as the precious metal rose to a 6-year high on economic recovery hopes that bolstered bets of industrial autocatalyst demand, along with expectations for additional stimulus and a weaker dollar that support demand for hard assets.
On the demand side, analysts have pointed to last month’s 30% year-on-year surge in auto sales in China, the world’s biggest auto market. The rising demand for automobiles also supported demand for platinum in automobile catalytic converters that are designed to limit greenhouse gases from exhaust fumes.
“A shortfall is expected for palladium and rhodium this year as well, the third consecutive annual deficit for rhodium and the tenth for palladium, Johnson Matthey researcher Rupen Raithatha said,” per
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