Investors pile into platinum funds in bet on hybrid vehicles

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The story "Investors pile into platinum funds in bet on hybrid vehicles" was covered 3 days ago by Financial Times, a news publisher based in United States.

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Financial Times 3d ago

Investors pile into platinum funds in bet on hybrid vehicles - Financial Times

Quick Summary:

Paul Syms, head of commodities product management at Invesco, said that platinum demand was also boosted by AI and data storage since the metal is used in hard disc drives, while supply is expected to be low.

Nicky Shiels, an analyst at MKS Pamp, a Swiss precious metals refinery and trader, said that the EV slowdown was “an absolute tailwind” for investment demand for platinum.

Global carmakers including Ford and Stellantis are expanding their line-up of gas-electric hybrids as sales growth of electric vehicles slows owing to concerns about cost and charging infrastructure.