(Mining.com) The price of platinum stayed above $900 an ounce on New York futures markets on Monday as it attempts to recover from levels last seen in January 2016 struck last week. Platinum is trading near a record discount of $400 an ounce against gold and its lacklustre performance compares to sister metal palladium 27% rally over the past year. The bearish outlook for platinum is reflected on derivatives markets where managed money investors such as hedge funds have cut bullish bets to record lows. Large scale speculators now hold the biggest net short position – bets that the metal can be bought cheaper in future – since government started collecting the data in 2006.
Hedge Funds Have Never Been This Bearish on Platinum Price
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