?铂金现货价格狂飙 即将复刻“白银式挤仓”狂热行情?

Core Viewpoint - The platinum market is experiencing significant price volatility, with potential for a "silver-style squeeze" similar to recent events in the silver market, driven by supply constraints and geopolitical risks related to U.S. tariffs on platinum group metals [1][2]. Group 1: Price Movements - Platinum prices surged by 6.4% to $1,646.03 per ounce, marking the largest intraday increase since 2020 [1]. - In October, platinum prices reached a 12-year high, with a 60% increase since May, outperforming gold and silver [1]. - The premium of platinum spot contracts over futures widened to $53.45 per ounce, a significant increase from $28 the previous day [1]. Group 2: Market Dynamics - There is a rush for physical platinum, mirroring the recent panic in the silver market, where both institutional and retail investors are aggressively purchasing the metal [2]. - Dan Ghali from TD Securities noted that the platinum market is tightening rapidly, raising concerns about a potential squeeze similar to that seen in silver [2]. - Despite a record monthly export of approximately 140,000 ounces of platinum products from China, liquidity in the platinum market is under pressure [2]. Group 3: Regulatory and Supply Chain Risks - Deutsche Bank highlighted that platinum and palladium are likely candidates for tariff actions due to their concentrated supply chains and geopolitical risks [3]. - The overdue report from the U.S. Commerce Secretary will assess the national security implications of importing key minerals, including platinum and palladium [3]. - Potential trade restrictions could exacerbate existing supply tightness in the platinum market, with leasing rates above normal levels and rising operational costs for industrial users [3].