Platinum Investing News» industrial

Platinum gets mixed response as crude oil drops

Melissa — Fri, 19 Jun 2009 06:28:55 +0000

Platinum was mixed on Thursday, July platinum rose $2.40 to $1,207.60 an ounce, while September palladium declined $3.35 to $239.70. The drop in the three month contract price was related to declining crude oil. Last week, prices of both platinum and palladium climbed to their highest levels since November 2008-

GFMS forecasted platinum at $900-$1,375 in 2009

Melissa — Thu, 23 Apr 2009 18:42:06 +0000

Metals consultancy GFMS stated that platinum and palladium will take little support from their fundamental drivers in 2009 as industrial demand stays weak, but a rally in gold could spark a temporary uptick in prices. For full story, click here

Platinum to mimic gold?

Melissa — Wed, 04 Mar 2009 05:45:45 +0000

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.

Platinum’s rebound puzzles analysts

Melissa — Wed, 11 Feb 2009 04:19:22 +0000

Platinum has bounced more than 30 percent since plunging to a five-year low of approximately $732 an ounce in October. This ascent is occurring despite the absence of physical buying from the industrial sector. This rebound, without appropriate technical recovery is puzzling analysts.

Platinum’s future eludes analysts

Melissa — Wed, 28 Jan 2009 10:31:03 +0000

Platinum showed extreme volatility in 2008, rising to an all-time high of $2,290 an ounce in March on the back of a power shortage in major producer South Africa, before falling to a five-year low of $732.50 in October.

What is ahead for Platinum?

Melissa — Wed, 05 Nov 2008 04:51:30 +0000

Platinum, once prized with value due to its rarity, has become one of the worst performers of the precious metals. So far this year, the metal used as an auto catalyst has shed 46% of its value.

Platinum’s rollercoaster ride

Melissa — Wed, 22 Oct 2008 02:40:58 +0000

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.

After brief retreat, platinum falls again

Melissa — Wed, 24 Sep 2008 03:10:41 +0000

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.

Platinum off to a Weak Start

Melissa — Wed, 03 Sep 2008 02:52:14 +0000

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.

Platinum jumps amid speculation about industrial purchase

Melissa — Fri, 29 Aug 2008 14:10:41 +0000

Platinum futures jumped for a fourth day in Tokyo amid speculation that carmakers and other industrial users were buying the metal to take advantage of the declining prices. Ralph Preston, a futures analyst at Heritage West Futures Inc. in San Diego, said: Platinum’s continuing to get support from industrial buyers. Click here for full story.