According to Philip Newman, director of Metals Focus, the rise in gold prices can support the cost of platinum, since these precious metals are interconnected with each other. He spoke about this during his speech at a conference in Atlanta on automotive catalysts and fuel.

Despite the use of platinum group metals primarily in industry, platinum is still a precious metal. According to Newman, "there is a relationship between platinum and gold. Due to the large difference in price between these precious metals, investors have become disillusioned with platinum. But the rising cost of gold will be able to support platinum prices."

According to Metals Focus, the gold price this year will be able to reach the mark of $ 1400 per ounce, which in turn may pull platinum prices down.