The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com -- UBS told clients in a note Thursday that it prefers gold over platinum heading into the fourth quarter, pointing to weaker fundamentals for the white metal after a second straight quarterly surplus.
Strategist Giovanni Staunovo said the platinum market was oversupplied again in the second quarter.
"Weak investment and jewelry demand suggests that the platinum market will remain oversupplied this year," he wrote, adding: "Given platinum's weaker fundamentals, we currently prefer exposure to gold over the white metal."
The World Platinum Investment Council estimated a surplus of 244,000 ounces in the second quarter, equivalent to 15% of global demand, and revised the first-quarter surplus higher to 304,000 ounces.