Platinum plunged to a new low on Tuesday, dropping below $1000 an ounce for the first time since 2006. Platinum dropped $96.00, or 8.8%, to hit $994 on the London Metal Exchange. At its current price platinum is down 57% from its record high of $2301.50 hit on March 4th.
Read the full article: "Analysts see light at the end of the tunnel..."
Tuesday, September 23, 2008
Platinum started the week off on a good note, prices rose more than 3 percent as the greenback weakened and a renewed optimism on platinum’s future market returned to analysts.
Read the full article: "After brief retreat, platinum falls again"
Tuesday, September 16, 2008
Platinum is following the recent base metal trend, a round of selling, as fears about the health of the US economy were reignited by the Lehman Bankruptcy. Oil, base metals such as copper, European equities, and U.S. stock futures all slipped sharply on the news.
Read the full article: "Economic woes hit platinum"
Tuesday, September 9, 2008
The continuing rise of the greenback coupled with auto industry woes has hit platinum where it hurts the most- market prices. These two factors are causing platinum to continue on a bearish trend.
Read the full article: "Platinum continues bearish trend"
Monday, September 8, 2008
South Africa’s Mvelaphanda Resources denied that it is in talks with Aquarius Platinum about a possible merger with the world’s No.3 platinum producer Lonmin. James Wellsted, executive commercial manager of Mvela, said: At the moment we haven’t had discussions with Aquarius about anything like that. For more information, click here For Mvela’s website, click here
Read the full article: "Mvela Resources denies talks with Aquarius,..."
Monday, September 8, 2008
Platinum futures for October delivery lost $34.40 to settle at $1,367.80 an ounce on the New York Mercantile Exchange on Friday. For more information, click here
Read the full article: "Platinum prices decline"
Tuesday, September 2, 2008
In Tokyo, Spot platinum fell more than three percent on Monday on renewed concerns about demand for the metal. The cash price stood at $1,421.50/$1,441.50 per ounce, compared to late New York levels of $1,474.50/1,494.50.
Read the full article: "Platinum off to a Weak Start"
Monday, September 1, 2008
Platinum fell more than 3 percent on concerns about falling demand for autocatalysts, while Gold bounced on Monday on speculative buying driven by higher oil ahead of Hurricane Gustav. Manager of precious metals at Heraeus Ltd in Hong Kong, Dick Poon said: There’s some resistance on the top side. I think it’s mostly related to [...]
Read the full article: "Platinum down by 3 percent while Gold..."
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Tuesday, September 30, 2008