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"
Tuesday, March 3, 2009
Platinum is known as "high-octane gold", for its stronger price moves and prospects for a higher upside. Platinum is essential to the economies of many industrialized nations, globally, demand for platinum is the sum of; investment demand, industrial demand, and jewellery demand.
Continue reading "Platinum to mimic gold?"
Tuesday, September 30, 2008
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.
Continue reading "Analysts see light at the end of the tunnel for platinum"
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.
Continue reading "After brief retreat, platinum falls again"
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Friday, June 5, 2009