U.K. stocks climbed the most since May 2010, with the benchmark FTSE 100 Index (UKX) rebounding from a 13-month low, as mining companies advanced.
Bloomberg reports that U.K. stocks dropped to a 2 1/2-month low, led by selloff in mining companies as concern the global economy is slowing hurt metal prices.
Fixing in London on 14th April at $1,222/oz, platinum was at its highest price since September 2008. But news of the impending bankruptcy of the Chrysler car company punctured sentiment, and by 1st May it had slipped back to $1,076/oz, its lowest since mid-March. For full story, click here
Platinum surged 1.3 percent to $1,136.25 in New York and London. For full story, click here
The amount of metal ETF Securities holds to back its London platinum and palladium exchange-traded commodities surged by 2.4 percent and 4.4 percent respectively in the week to last Friday. For full story, click here
Platinum rose to a six-month high in London on speculation that improving auto sales and a potential new exchange-traded fund will rise demand for the metal. Afshin Nabavi, a senior vice president at MKS Finance SA, stated: News on the potential ETFs and of course car sales data out of China. For full story, click [...]
On the London Platinum Market, platinum gained to $876 an ounce at the late fixing from $812 a week earlier. For full story, click here
Thursday, August 11, 2011