Bloomberg reported that as platinum miners limit supply, demand for the metal is increasing. It is expected to end the year at $1,690 per ounce, up 16 percent from its current price.
Articles Tagged "platinum prices"
NASDAQ reported that South African supply problems are making it likely that platinum will see a strong price increase in the coming weeks; that means it may be a good time to invest in platinum ETFs.
MetalMiner reported that on Monday, the price of Chinese platinum bars increased by 1.9 percent, while the price of Japanese platinum bars was little changed.
Bloomberg reported that more shafts belonging to Impala Platinum Holdings Ltd. (OTC Pink:IMPUY) are losing money as a result of inflation and higher operating costs.
Bloomberg reported that in 2012, platinum fell into deficit for the first time since 2004, according to Thomson Reuters GFMS. Consumption of the metal rose 1 percent, hitting 7.19 million ounces, in part due to expanded jewelry demand.
Reuters reported that platinum fell Friday on strong economic data and in spite of the upcoming spending cuts by the US government.
Bloomberg reported that platinum fell to its lowest level in seven weeks in New York on reduced concern that the supply in South Africa will be disrupted, after the Association of Mineworkers and Construction Union signed an accord yesterday which will help keep peace and stability in South Africa’s mining industry.
Reuters reported that platinum rose 0.7% Monday as the uncertainty in Italy’s election results lifted safe-haven buying.
A brief overview of platinum price developments, supply and demand and significant market movers.
Reuters reported that the prices of platinum declined after Anglo American Platinum announced it will resume operations on its South African mines starting Wednesday.