Gold exceeds platinum in value
Platinum has shed 45 per cent of its value in just nine months. Last Friday the spot price of platinum hit a low of $812.75 per oz. Now, for this first time in 12 years gold has surpassed platinum in value.
Articles Tagged "platinum market"
Analysts see light at the end of the tunnel for platinum
Platinum plunged to a new low on Tuesday, dropping below $1000 an ounce for the first time since 2006. Platinum dropped $96.00, or 8.8%, to hit $994 on the London Metal Exchange. At its current price platinum is down 57% from its record high of $2301.50 hit on March 4th.
After brief retreat, platinum falls again
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.
US platinum slips on dollar’s rebound,Tokyo platinum up
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.
Analyst Unable to Reach a Consensus
The platinum market has rebounded this week, but not enough to stop JP Morgan analysts from releasing their opinion on the metals poor short term outlook. Platinum's recent rally was brought about by gold's price jump extending optimism to the entire precious metals sector.
