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.
Platinum futures in Tokyo rose for a second day as crude oil prices advanced. Kazuhiko Saito, a commodity strategist at Interes Capital Management, said: The gain overnight in oil prices is a very supportive factor for commodities such as platinum today. Click here for more information.
Platinum futures fell in Tokyo as fall in platinum this month damped concern that consumer prices will rise, reducing demand for the metal as hedge against inflation. For full news, click here
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