Youhong commerce and trade

US President elect Joe Biden's pledge to invest $2 trillion in green energy has pushed platinum prices higher in recent weeks. At the same time, the good results of the vaccine test boosted the global economic outlook and weakened the demand for safe haven assets. The gold price fluctuated this month, falling by 4.8% to US $1781.90, the lowest since July 1.

Earlier this year, the EU pledged to make renewable hydrogen a key part of its European Green agreement. China also said that it would achieve net zero emissions by 2060 and is expected to invest in hydrogen energy. The world platinum Investment Association predicts that platinum demand will exceed the supply of 1.2 million ounces this year, a record high. The recovery prospect of platinum demand from hydrogen technology, coupled with the epidemic and the tight platinum supply of South African miners, it is expected that the shortage of platinum will reach a record level this year, showing the most promising platinum prospect in many years. For the first time in many years, platinum demand has increased so much. A hydrogen fuel cell powered vehicle requires four times as much platinum as diesel vehicles currently equipped with platinum catalysts. Moreover, unlike catalysts that can use palladium or platinum, only platinum can be used in hydrogen fuel cells. The hydrogen economy requires fuel cells, which require platinum. The current platinum price provides a strong economic driving force for this, which may generate more platinum demand. Stagnant platinum attracts investors