Commodities: Precious Metals, Platinum Drops
Bloomberg reported on commodities trading on Thursday noting platinum fell the most in nearly a month.
Articles Tagged "nymex"
Platinum Eases on New Jobs Data from the U.S.
CNBC reported platinum prices fell slightly on Friday when hopes of a Federal stimulus were smashed on positive job growth for the month.
Platinum Drops on the NYMEX
Bloomberg reported precious metals fell on Wednesday on a stronger dollar, including platinum.
Precious Metals Gain on Haven Demand
SMH reported precious metals rose on demand for a haven amid persistent concerns that Europe's debt crisis will hinder the global economy.
Precious Metals Decline in New York
Bloomberg reports precious metals fell after a report showing unexpected growth in U.S. manufacturing bolstered optimism in the economy.
Moore Capital Former Manager Is Banned From Platinum Trading
Bloomberg reports a former Moore Capital Management LP portfolio manager is barred from trading palladium and platinum on the NYMEX.
NYMEX July platinum slided $58
NYMEX July platinum PLN9 slides $58.00, or 5.0 percent, to $1,092.30 an ounce, after hitting a session low of $1,071.10, which marked the weakest price since March 19. For full story, click here
Automaker uncertainty bad news for platinum
Platinum declined last week; and continued the trend this Monday as uncertainty over the future of US automaker GM put the metal’s near future demand outlook into question. In the current state of the economy, the auto industry is unable to lend support to platinum; but the metal may get some relief from rising safe haven appeal.
NYMEX July platinum strengthened $12.40 cents
NYMEX July platinum strengthened $12.40 cents to $1,187.40 an ounce. For full story, click here
Wall St. woes hit platinum
Platinum has been on a steady downgrade, falling since trading at a record $2,301.50 an ounce in March. A poor economic outlook eroding demand for jewelry and cars is responsible for the metal's flop.
