Platinum prices slipped on Monday as the U.S. dollar resumed its rebound against the euro and the pound. Platinum is often used by investors as a hedge against a weakening dollar, so the dollar's recovery has made the metals less attractive.
Platinum gained for a second day in Asian trading due to speculations about short covering. Barclays Capital Inc. analysts led by Jordon Kotick were quoted as saying: A bout of short covering could ensue into the $1,638 to $1,712 an ounce resistance zone in the sessions ahead. Click here for more information.
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