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martedì 29 settembre 2015

Els: Gold/Platinum Ratio ai minimi da 25 anni


Col platino ai minimi da 7 anni e oggi a 900 dollari l'oncia si e' raggiunto anche il minimo nella Gold/Platinum Ratio da 25 anni a sta parte:

(...) A research note yesterday from investment bank Barclays argues that the plunging platinum price could drive physical demand of platinum in jewellery:
Currently, platinum/gold is trading the lowest level in more than 25 years. 
Although the diesel-engine scandal has a limited direct effect on gold, the price ratio between platinum and gold can affect jewelry demand, shifting some from gold into platinum, especially in markets such as China, where there is a preference for platinum jewelry,” the analysts wrote. 
Sister metal palladium finds more application in gasoline engines and is therefore more exposed to the Chinese and US markets and should therefore in the longer term benefit from a move away from diesel.

Il platino viene usato di più nei catalizzatori delle vetture diesel mentre il palladio nelle benzina tradizionali. Per questo un allontanamento dal primo tipo di motori favorirebbe il palladio piuttosto che il platino. 

Ma un prezzo del platino più basso potrebbe favorire le vendite di giojelli in platino, che in Cina sono amatissimi. 


(...) After the dip below $900 at the height of the financial crisis the price of the metal quickly recovered and was trading back above $1,000 in January 2009 – for a sustained period below $900 an ounce you have to go back more than a decade. 
Platinum's primary use is in catalytic converters to reduce emissions – specifically for diesel vehicles – and Europe's car manufacturers are the top consumers of the metal where diesel makes up 50% of the market. The average PGM load in autocatalysts in passenger vehicles are around 4 grams, a level that's been steadily rising as emissions regulations are tightened around the world.

L'ultima volta che il platino e' stato a meno di 900 dollari l'oncia per un certo periodo e' stato più di una decade fa


(...) Together Russia and South Africa control between 70% and 80% of the world’s supply of PGMs 
Russia's state stockpiling organization called Gokhran sits on an disclosed amount of palladium built up during the Soviet era, which it releases onto the market from time to time. 
The structure of supply has not altered in any substantial way since the 1970s when platinum and later palladium came to the fore as an important part of the world’s automobile industry.

Russia e Sud Africa controllano fra il 70 e l'80% dell'offerta mondiale di Platinoidi. 

In Russia esiste un accumulo di palladio creato durante l'era sovietica e controllato ora da un'organizzazione chiamata Gokhran, che pero' non rilascia dati sull'entità' dei suoi accumuli e ne vende di tanto in tanto a proprio discrezionalissimo tiramento di culo

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