Platinum was trading around $1,735 per ounce Wednesday and palladium was at $762 per ounce.

“It is quite clear that this year, the demand will (exceed) supply. I think we are seeing steady buying actually,” Yuichi Ikemizu, branch manager for Standard Bank, said in the article. “There’s a steady flow into those metals from investors all around. I think we could try $1,750 for platinum and for palladium, the target is $800.”

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For more information on platinum, visit our platinum category.

Max Chen contributed to this article.