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.
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The International Energy Agency, which is the OECD’s Energy watchdog, has just released its Oil Report for March 2020. This release coincides with the worst fallout in oil prices in a single day in decades. This new monthly edition of the IEA’s flagship publication comes amid increasingly gloomy prospects for the world economy, amid a seemingly irrepressible spread of the coronavirus pandemic.