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
Articles Tagged "price"
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.
Consumers are increasingly turning to platinum jewellery in preference to gold as a result of the precious metal’s recent fall in price, it has been revealed. For full story, click here
Colossus Minerals Inc. announced today the closing of its bought deal offering saying that a total of $24.7 million has been raised including 1.5 units of the over-allotment. Proceeds of the financing will mainly be used to advance the Serra Pelada gold and platinum group metal project in Brazil.
Platinum is less than half the price it was a year ago, and the price differential with gold has come down to almost zero. For full story, click here
South Africa’s rand snapped a four- day decline against the dollar as higher prices for gold and platinum, the nation’s biggest export earners, boosted revenue prospects for the world’s largest producer of precious metals. For full story, click here
Platinum prices may be supported going forward by reduced mine output in South Africa. For full story, click here
Platinum has bounced more than 30 percent since plunging to a five-year low of approximately $732 an ounce in October. This ascent is occurring despite the absence of physical buying from the industrial sector. This rebound, without appropriate technical recovery is puzzling analysts.
Real platinum prices (in 2007 dollars) are expected to average $1,343 an ounce between 2008 and 2017, the forecast period. For full story, click here
Platinum prices are not expected to rise in 2009, but as the economy perks up and automakers start selling cars again, platinum prices will rise. Before that happens, though, platinum could fall further. For full story, click here