The outlook for platinum and palladium is likely to remain bullish in 2021 after a rally in 2020 that was boosted by the prospect of a faster than expected recovery for global growth and for global vehicle sales. Platinum should benefit most from the rebound in vehicle sales and from the increased demand for Jewelry across the world as the global economy rebounds and pent-up demand is released.
Platinum and Palladium are key components in the catalytic converters used to reduce the CO2 emissions released by thermic vehicles. Against a backdrop of strong price momentum for the metals in 2020, there has been increased report of used catalytic converters being stolen in order to extract the precious metals from them.
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