Platinum prices are forecast to reach record highs within the next six months due to tight market conditions and high investor appetite for commodities, said Johnson Matthey, the metals and chemicals group, said in its annual survey of the platinum market.
Johnson Matthey said that the launch of exchange traded funds recently has provided some support to the platinum price. “If the platinum ETFs are particularly successful in gathering investment, then they could apply further upward pressure to the metal price. With this in mind, we believe that platinum could reach $1,400 a troy ounce over the next six months,” the company said in its Platinum 2007 report.
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