In the metals market on Wednesday, June 20, Platinum declined 0.5 percent to $862.90 an ounce.
Earlier in the session, it touched $854.50, its lowest since February 3, 2016. Julius Baer said in a note that platinum remains under pressure from trade tensions and related fears of a slowdown in global growth, but added it does not see further downside at these levels.
“Platinum still suffers from the diesel emission scandal and faces a depreciating South African rand, which lowers dollar-denominated costs (for) South African producers.
While the market should remain well supplied against this backdrop, we believe this is reflected in extremely negative sentiment in the futures market. Hence, we maintain a neutral view.”
Silver , on the other hand, dipped 0.2 percent at $16.25 an ounce, having a one month low of $16.21 hit in the previous session.
Palladium was flat at $966.68, having hit a one month low of $963.
