Platinum, a key commodity for many countries, has been in a prolonged slump for years, with the price dropping below $400 per ounce in late 2018.
Platinum prices have been trending downward for several years, falling to around $300 per ounce this year.
Platinum, the world’s most valuable metal, has lost nearly 20% of its value over the last five years.
Gold, the most widely used commodity, has seen its value climb to around the $1,500 mark over the past five years, and its price has grown from around $1 million to around two million euros per ounce over the same period.
That’s because gold prices are driven by supply and demand, not supply and supply has not been growing.
But demand is increasing, with Chinese demand for gold increasing from about 50 million ounces per day to about 1 billion ounces per year.
Gold’s value has risen to nearly $2,000 per ounce.
Silver, the second most valuable precious metal, is down slightly, but not nearly as much as gold.
Its value is down around 4% this year and will fall to around 1% by 2021, according to the metal’s website.