Articles Tagged "platinum price"

Platinum and Palladium Reach Highs This Week on U.S. Car Sales, News of New Strike

The Wall Street Journal reported this week that platinum and palladium prices reached ten month and two week highs respectively this week as the U.S. posted higher than expected automobile sales and news of a possible new mining strike in South Africa following the end of the long running strike by the Association of Mineworkers and Construction Union.

Platinum Futures Up on South Africa Strike

Bloomberg reported today that platinum-group metals are doing well amidst supply concerns due to an ongoing strike in South Africa. Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) plan to attempt mediation again on Tuesday, according to the news outlet.

Platinum Prices Gain as Palladium Soars

Following palladium's remarkable near-three year gains bringing it to $828.80 on Wednesday, platinum also rose to reach its highest price since early March, Bloomberg reported. According to the publication, platinum futures for delivery in July rose 2 percent to $1,485.70 an ounce, trading as high as $1,487.60 throughout the day.

Platinum Stockpiles Hold Prices Steady as Strike Continues

Reuters reported today that at $1,412 an ounce, platinum prices are still lower than at the start of January when the white metal was priced at $1,452 an ounce. According to Reuters, platinum prices have been supported in part by ample stocks that were shored up before the almost four month long South African miner strike began.