Platinum Market Deficit Seen Widening in 2014

Back in November we said that although we thought gold would be heading south, that if one absolutely had to have exposure to precious that platinum was the better bet (so, as it turns out was palladium, Russia and all, crapski) and suggested a short gold/long platinum pair trade as a dirty hedge. Here's how it's doing, via Yahoo Finance:

And from Mineweb:

A report from Johnson Matthey forecasts a deficit of 1.218 million platinum ounces this year, the largest shortfall since it began compiling data in 1975.

The platinum market is expected to post a deficit of 1.218 million ounces this year, a report from Johnson Matthey showed on Tuesday, the largest shortfall since it began compiling data in 1975.

South Africa, currently facing its longest and costliest platinum miners' strike ever, is expected to supply quarter of a million fewer ounces of metal in 2014 than last year - some 3.953 million ounces against 4.209 million in 2013.

With Russian output seen dipping by 15,000 ounces, total mined supply of platinum is expected to fall 267,000 ounces to 5.562 million ounces.

The two countries between them account for nearly 85 percent of annual mined supply of the metal, data from the British company, a major refiner of precious metals, showed....MORE

Kitco spot:
Au $1297.10 up $5.20
Pt  $1480.00 up $7.00