Platinum (XPT/USD) is currently trading below the $900 level. Economists at Commerzbank have adjusted their forecast lower to $1,000 by the end of the year.

Platinum is suffering from continued selling by ETF investors

“We are revising our year-end price forecast for platinum downwards to $1,000 (previously $1,050).”

“Platinum is also suffering from continued selling by ETF investors. Since the beginning of the year, these have now totalled more than 400 thousand ounces. The platinum market could therefore be more oversupplied this year than previously expected.”