Case: Auto-Cycle Pressure on PGMs
A downturn in auto output reduced near-term PGM demand, widening divergence between platinum and gold performance.
Key Takeaways
- PGM pricing is highly cyclical and industry-dependent.
- Macro hedges for gold may not map cleanly to PGMs.
- Sector-specific demand tracking is critical for precious spreads.
References
Last reviewed: 2026-03-21