Platinum below $900USD/oz

S

SmartyFarty

Member
Broken through $900USD/oz today.

The VW diesel emission scandal is causing weak sentiment towards diesel cars. From what I know, diesel cars use more platinum and gasoline use more palladium. Hence platinum down, palladium up.

Platinum's single biggest demand comes from its use as a autocatalyst.
http://www.ptcalc.com/platinum-supply-and-demand.php

Some news articles are quoting analyst that think it can go as low as $850USD in short term.

I am not sure how this will play out.

Apparently there is 11 million cars affected.

Interested to know how VW intends on fixing the catalytic converters
 
It appears the the VW problems have to do with tuning the cars computer system which was rigged to use less fuel whilst in normal driving but more fuel whilst under emissions testing to reduce Nitrogen Oxide emission levels. It looks like this is mainly to do with the programming of the computer and not the catalytic converter. In order to "fix it" the vehicles tune would have to be programmed as if it were permanently in emissions testing mode.
 
That's true Aleks, but it has begun to cast doubts on the future of Diesel cars in general.
 
Palladium has fallen more than Platinum over a month, Platinum down 13% Palladium down 17% in $USD. I think there is more to come on the downside for both metals until miners start shutting up shop.
 
Now at $1276 AUD.

Is it just my imagination or was platinum, for some years, nearly double gold's price?
 
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