Bloomberg reports commodities gained for a fourth day, led by oil and precious metals, as military intervention in Libya renewed concerns about unrest in the Middle East.
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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-
Platinum has moved progressively lower in the overseas markets, but really hit the wall just after New York opened, dipping $20 in an hour before going flat for the rest of the day and ending at $1115, down $32. Overnight, platinum has edged higher. For full story, click here
Platinum rose $5.50 at $1,093 an ounce after falling as low as $1,066.50 on Tuesday, its weakest since March 19, to track declines in equities markets. For full story, click here
Platinum is on track for the best quarter in over a year, as demand for the metal as an alternative to gold has nudged prices up 23 per cent. Platinum’s premium to gold stood at $213.15 an ounce yesterday, compared with $1,041.83 a year ago.
Monday’s equity market rally switched precious metals to a negative track. As equities rose, the precious metals were less enticing to investors, and this was reflected in their value. Platinum for April delivery ended the session in New York down $14.20 to $1,049.40 per troy ounce.
Along with most other precious metals, the price of platinum was seen lower in New York, after equities markets experienced gains, this Monday. Platinum for April delivery ended the session in New York down $14.20 to $1,049.40 per troy ounce. For full story, click here