Articles Tagged "carmakers"

Platinum’s rollercoaster ride

Platinum was up on Monday, reversing some of last weeks huge losses. The metal used in the auto industry continued its rise on Tuesday, but later in the day experienced losses. Platinum’s rise from its 3 1/2 year low came as crude oil prices advanced, encouraging investors to buy commodities including precious metals.

Analysts see light at the end of the tunnel for platinum

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.