The price of platinum could dip in the next twelve months, but is not expected to fall below a limit of around $780 according to Johnson Matthey.

Johnson Matthey's Jeremy Coombes says that there remains potential for platinum prices to go up, but acknowledged that it could come under pressure during an interview with Mineweb at the start of Platinum Week in London.

"If the demand is slowing, as we see the rate of demand slowing down, it could go down. But we think $780 is probably the bottom for the next six months and, if the funds, which have been driving the price recently, come back in or consolidate, we could see it go back up towards the $900 level," Mr Coombes explained.

In particular he pinpointed the potential of big hedge funds in North America to keep the pgm price buoyant, noting that "a little bit of their buying of platinum can really influence the price".

In addition to the potential for hedge fund investment Mr Coombes also pointed to the fact that consumer demand for platinum remained strong in China, one of the biggest markets.

"Jewellery demand is still good in China. So I think that gives the price a lot of support," he added.