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.
Articles Tagged "prices"
Platinum and nickel producer Braemore Resources Plc warned of a wider first-half loss stated that the recent settlement of a single old-order contract might have exposed it to market volatility around platinum group metals prices and unfavourable processing terms. For full story, click here
Along with most other precious metals, the price of platinum was seen lower in New York, after equities markets experienced gains, this Monday. Platinum for April delivery ended the session in New York down $14.20 to $1,049.40 per troy ounce. For full story, click here
Sylvania Resources released its interim results to December 2008. Despite production of 12,236oz 3PGE+Au being above the 9,977oz produced in the prior six months, the company reported a small net loss for the period due to dwindling platinum prices. For full story, click here
Platinum is known as "high-octane gold", for its stronger price moves and prospects for a higher upside. Platinum is essential to the economies of many industrialized nations, globally, demand for platinum is the sum of; investment demand, industrial demand, and jewellery demand.
Immediate-delivery platinum gained 1.8 percent to $814.50 an ounce. 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.
Auto sales could begin to grow from 2010 and continue till 2012 but there would be a slowdown during 2013-15, impacting platinum. For full story, click here
As compared with the average of last 30 years, real and nominal prices of platinum is forecast to rule at sharply elevated levels over the next 10 years to 2017. For full story, click here
Nominal platinum prices are projected to average $1,563/oz during the forecast period, up about three times over the average nominal price between 1976 and 2007. For full story, click here