Gold prices, which had skyrocketed due to the novel coronavirus infection (Corona 19), have recently slowed, but platinum prices have risen sharply.
The Wall Street Journal ( WSJ ) reported on the 29th (local time) that the price of platinum rose by 14% this month to 964.8 dollars per troy ounce.
This is in contrast to the fact that the gold price fell 4.8% last week only after the news of the Corona 19 vaccine development after hitting an all-time high in summer. Gold prices have been weak recently and have fallen to the lowest level since early July.
The background of platinum's rise is attributed to US President-elect Joe Biden's pledge to invest in green energy, which emphasizes responding to climate change.
Biden pledged to rejoin the Paris Climate Agreement on the first day of his inauguration, in which President Donald Trump withdrew. Former Secretary of State John Kerry has been appointed as the president's climate envoy for climate change response.
If an active response to climate change continues, platinum demand is expected to increase due to the expansion of the supply of hydrogen energy and electric vehicles.
In fact, the World Platinum Investment Committee recently predicted that demand for platinum this year will exceed supply 1.2 million ounces right now. The annual use of platinum is between 7 million and 8 million ounces.
Platinum, used as a catalyst, plays an important role in both the electrolysis process, which draws hydrogen from water, and in fuel cells.
Raw material market analyst CRU"The amount of platinum used as a catalyst for diesel vehicles is about a quarter of that of hydrogen-fueled battery vehicles," said Kiril Kirilenko, head of the group's research institute. It will be."
Reporter Eunbit Go silverlight @ hankyung.com