Platinum's Bull Market Brewing? | Bob Moriarty on Supply, Demand & Contrarian Investing

**Is a Platinum Bull Market on the Horizon? Insights from Bob Moriarty on Supply, Demand, and Contrarian Investing**

Recent discussions within the precious metals community suggest that Platinum Group Metals (PGMs) may be poised for a significant upward move. In a compelling interview on Proven & Probable’s YouTube channel, veteran investor and resource analyst Bob Moriarty explores the fundamental factors that could signal the beginning of a new bull market for platinum, a metal often overshadowed by gold and silver but increasingly recognized for its industrial and strategic value.

### Moriarty’s Background and Contrarian Approach

Bob Moriarty’s journey into precious metals began in 1969, driven initially by concerns over the stability of US currency amidst the turbulence of the Vietnam War. His experience has shaped a contrarian investment philosophy—one that emphasizes independent analysis over crowd sentiment. Moriarty highlights the pitfalls of herd behavior, citing historical examples such as the gold and silver markets of 1979-80 versus the late 1990s and early 2000s, where extreme speculation and subsequent corrections proved instructive for savvy investors.

### The Shifting Landscape of Platinum Markets

Moriarty points to recent market fundamentals indicating a potential turnaround for platinum. According to a recent article on mining.com, key drivers include rapidly falling above-ground inventories, declining recycled supply, and a growing deficit projected by the World Platinum Investment Council (WPIC). These supply-demand imbalances suggest that current prices may not fully reflect the metal’s scarcity and industrial importance.

One noteworthy aspect Moriarty emphasizes is the increasing difficulty of profitable platinum production. A significant portion of global PGM production is now uneconomical at prevailing prices, a situation exacerbated by rising operational costs and resource depletion in key mining regions. Compounding this is a misconception among some investors and automakers that electric vehicles (EVs) will substantially reduce PGM demand; however, hybrids and regulatory shifts continue to support PGM use in catalytic converters, especially in jurisdictions with stringent emissions standards.

### Investor Sentiment and Market Dynamics

Recent shifts in investor behavior are also noteworthy. Moriarty observes that platinum ETFs, which once faced liquidation, are now beginning to see accumulation. This change in sentiment could presage higher prices, especially if institutional investors recognize platinum’s undervaluation relative to its industrial demand.

In terms of market positioning, Moriarty offers a contrarian view: platinum may currently be oversold or undervalued, presenting a strategic entry point for investors willing to look beyond the mainstream narratives. He stresses the importance of understanding macro-financial conditions, including issues within bond markets in Japan and the US, and how carry-trade dynamics influence metal prices.

### Investment Strategies and Future Outlook

For investors seeking exposure beyond physical platinum, Moriarty recommends exploring resource stocks and ETFs with strong fundamentals and operational potential. He underscores the importance of education, particularly for new investors entering the resource sector, advising a thorough understanding of supply chains, geopolitical risks, and market cycles.

During the interview, Moriarty also responds to practical questions about platinum holdings, mining locations, and future deposits. He highlights safe jurisdictions, expected mine lifespans, and the potential for discovering new, economically viable deposits—factors that could influence long-term supply.

### Conclusion

Moriarty’s overarching message is cautiously optimistic. While acknowledging current market challenges, he sees compelling signs that platinum’s supply constraints and industrial demand could catalyze a bull cycle. Investors are encouraged to conduct due diligence, consider contrarian principles, and remain vigilant to macroeconomic shifts that could impact precious metals.

As the market awaits broader economic signals, the case for platinum as a strategic investment appears increasingly compelling. For those willing to think independently and act ahead of market consensus, now may be a pivotal moment to consider platinum holdings.

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*For further insights, readers can explore Moriarty’s analyses on 321Gold.com and 321Energy.com, as well as recent market reports from mining.com. The current environment underscores the importance of staying informed in the resource sector—where supply, demand, and macroeconomic factors intersect to create investment opportunities.*