Core Viewpoint - Platinum prices have surged significantly this year, with a nearly 90% increase, surpassing gold's price rise, making it a focal point in the precious metals market [1] Group 1: Market Trends - The current spot price of platinum has exceeded $1800 per ounce, marking a strong performance in the market [1] - In the Shenzhen Shui Bei market, the price of platinum jewelry has seen fluctuations, with the price per gram reaching around 440 yuan, up from 310 yuan earlier in the year [6] - Some jewelry stores are reducing their gold inventory and shifting focus to platinum due to rising consumer interest and price competitiveness [3] Group 2: Consumer Behavior - Consumers are increasingly inquiring about platinum jewelry as gold prices rise and associated taxes make gold less attractive [3] - The recovery mechanism for platinum jewelry is in place, but the price difference between selling and recovery has widened, indicating a growing market for platinum [6] - Discussions on social media indicate a rising interest in platinum, with many consumers viewing it as an undervalued investment option [8] Group 3: Supply and Demand Dynamics - Analysts suggest that the supply side of platinum is facing challenges, particularly in South Africa, which is experiencing power shortages and aging infrastructure [11] - The demand for platinum is expected to grow due to increased use in traditional automotive catalysts and emerging hydrogen energy applications [11] - Market analysts predict that platinum prices could rise significantly, with estimates suggesting a potential price of $2170 to $2300 per ounce by 2026, which is higher than many Wall Street forecasts [11]