Core Viewpoint - The price of platinum is rising significantly, driven by increased demand in China and a shift in investor interest towards undervalued assets like platinum, which has outperformed gold and the S&P 500 index [2][6]. Group 1: Price Trends - Platinum prices have surged to around $1360 per ounce, representing a 50% increase compared to the end of 2024, significantly outpacing gold's 30% rise and the S&P 500's 10% increase [6]. - In Japan, the price of platinum is approximately 6846 yen per gram (around 333.3 RMB), with a notable increase in sales, reportedly rising sevenfold since January [4][6]. - The global platinum supply for 2024 is projected at 180 tons, with China's imports from April to June accounting for about 20% of this total [9]. Group 2: Demand Drivers - The demand for platinum is being bolstered by younger consumers in China, who are increasingly favoring platinum jewelry over gold [9]. - In Japan, the sales of platinum bars have surged, with reports indicating a sevenfold increase in sales compared to earlier in the year [4]. - The industrial demand for platinum remains significant, with approximately 70% of its usage in automotive catalytic converters [9]. Group 3: Market Dynamics - The recent price increase is attributed to a combination of factors, including a shift in investor focus towards platinum as a low-valued asset amid a backdrop of high gold prices [6][10]. - South Africa, the largest platinum producer, experienced a production decrease due to early-year flooding, which may impact supply through September [10]. - Financial institutions have raised their price forecasts for platinum, with predictions suggesting it could reach $1600 per ounce by the second half of 2025 [10].