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2020 was a strange year for all, but the volatility in platinum was a stand out for most. In Q2, Q3 and Q4 platinum posted supply/demand deficits with the end of 2020 hitting a deficit of -170 koz. Platinum price has benefitted mainly due to the rebound in demand in automotive, industrial and jewellery sectors. During 2020 platinum’s ratio against gold hit an all time low as demand during Covid collapsed chiefly due to the slump in car sales across the globe during lockdown. However it has since recovered from the lows of $575/oz in March 2020 to more than double at the current levels of around $1200/oz.
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