Platinum Price Forecast March 2021: Will The Rally Continue?

Here is our Platinum Price Forecast 2021 showing that while other precious metals are still under pressure, platinum price continues its upward trend. #Platinum2021 hit a 6-year high on brightened demand outlook.

South Africa, the top producer of #Platinum is likely to see more supply disruptions because of vaccine issues against COVID-19 - the government would not administer the Oxford-AstraZeneca vaccine as a small clinical trial shows it isn't effective enough in preventing illness from the variant dominant in the country.

Another fundamental supporting platinum price 2021 is the recovery in car production in particular higher demand from heavy-duty Chinese vehicles and platinum-based fuel cell stacks. Auto sales are surging globally together with economic growth and coupled with higher emissions regulations, is propelling the search for the metal. According to analysts, around 35% of platinum 2021 goes to jewelry, so with demand expected to remain healthy due to platinum's hefty discount to gold, is supportive of platinum price forecast 2021.

On the technical side, platinum price analysis shows the metal is in a consolidation in the short-term after a decisive uptrend. The consolidation might continue with the 6-year high remaining a critical barrier to the potential upside. A break above this level could signal an entry point for the bulls.

Watch the full video for our take on the platinum price today and a deeper insight into what to expect in the weeks ahead from our platinum forecast 2021. Drop us a line in the comments with your thoughts on platinum price prediction. To be notified about the latest #PlatinumPrice and news, subscribe to Capital.com, and click that notification bell.
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