Unlikely that Ag will pass Au. When Hunt Bros cornered the Ag market and ran it up to $50 , silver came out of the woodwork - and closets - and drawers - and safes etc.
Not so with Pt as very few people have much physical Pt other than maybe a wedding ring which is unlikely to be sold. Not much weight anyway. Hmmm - wonder if divorce lawyers will go into metal buying business :-)
There has not been a new refinery built in the US in over 30 years. However in India and the Mid-East large super refiners are coming on-line very quickly. AND guess what they will need? And a lot of it! Why platinum/palladium! SEE BELOW: "Platinum is used in the processes known as reforming and isomerisation, which create the higher octane components for gasoline. Platinum is key to the production of gasoline - without it, refineries would not be able to produce enough gasoline to meet current requirements.
Other platinum group metals Palladium is used by a limited number of refiners for upgrading certain refinery feeds in a process known as hydrocracking. Iridium can also be used in conjunction with platinum in a few niche reforming applications.
The Hunt Bros were on the verge of cornering the silver market and could have if not for the unusual measures taken at the time.
As the Hunts continued to take delivery of silver, it was becomng apparent to the COMEX and CFTC that at some point there would not be enough physical silver available to deliver by those who were short.
So the regulators established position limits in silver on the futures exchange and virtually crashed the paper price by killing the ability of speculators to speculate.
But no such limits for those selling short as I recall.
Had the Hunts not used so much leverage, the story might have ended quite differently.
Bottom line, what the regulators did back then was highly questionable and much like we've seen recently in order to control prices and prevent free markets from testing the abilty to deliver on physical silver.
If I recall, there were 4 increases in margin requirements for silver in the space of something like 2 weeks when silver recently approached 50.