Platinum prices, already on the positive track, got a boost this week from declining greenback and the announcement of GM’s Bankruptcy. GM’s bankruptcy is by no means a positive for platinum, as the auto industry accounts for approximately half of global platinum demand; however, platinum’s price has been reflecting the impending bankruptcy for many weeks.
Continue reading "GM bankruptcy lends relief to platinum"
Monday, April 27, 2009
Platinum declined last week; and continued the trend this Monday as uncertainty over the future of US automaker GM put the metal’s near future demand outlook into question. In the current state of the economy, the auto industry is unable to lend support to platinum; but the metal may get some relief from rising safe haven appeal.
Continue reading "Automaker uncertainty bad news for platinum"
Tuesday, January 13, 2009
Platinum rebounded early in ’09, and came back into the four digits, the metal’s highest value in over 12 weeks. In 2008 the metal went on a wild ride, hitting a peak of $2,290 per ounce, and then came crashing down to a three digit value. Despite the metal starting the year on a good note, RBC capital markets has cut its platinum price forecast for the next two years.
Continue reading "Platinum rebounds despite poor fundamentals"
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.
Continue reading "Platinum continues bearish trend"
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.
Continue reading "Platinum off to a Weak Start"
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Friday, June 5, 2009