Against the backdrop of the continuous weakening of the US dollar, platinum is staging a stunning market-shaking reversal – surging by 35% from its April low, breaking through the key resistance level of $1,100 and heading straight for $1,220, reaching a four-year high.

And the trigger for all this, some analysts believe, is Chinese buyers’ weariness with the excessive volatility of gold and their rediscovery of the “relative stability” of platinum.

Data shows that in April this year, China, the world’s largest consumer of platinum, imported 11.5 tons of platinum in a single month, setting a new high for the year.

Fundamental analysis indicates that the platinum market is facing a structural supply shortage. Analysts predict that global platinum demand will continue to exceed supply in the next decade. It is reported that in Shenzhen Shuibei Market, a jewelry hub with over 10,000 retailers, the number of platinum retailers has tripled within a month.