WPIC increases forecast for deficit to rise by 320 thousand ounces for the rest of 2016.
by Sungula Nkabinde
Having recently breached the $1 000 per ounce mark, the platinum price appears to be slowly reflecting demand-supply fundamentals, vindicating the World Platinum Investment Council (WPIC) somewhat. There had been questions around the credibility of the organisation’s platinum quarterly report which has consistently reported deficits over the last few years despite a depressed platinum price environment. But investors now appear to be responding to the data.