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Platinum buying quickens as gold allure diminishes: Commodities

Posted on 22 May 2013

At a time when diminishing faith in gold is spurring investors to sell record amounts of the metal, demand for platinum and palladium is strengthening as mining companies curb supply.
Gold owned through exchange-traded products fell 17 percent this year as platinum holdings rose 31 percent and those in palladium 17 percent, data compiled by Bloomberg show. Platinum will end the year at $1,690 an ounce, or 16 percent more than now, while palladium will gain 7.5 percent to $800 an ounce, according to the medians of 15 analyst estimates compiled by Bloomberg. The majority of 38 analysts surveyed last month said gold would post an annual drop, ending a 12-year winning streak……………………………..Full Article: Source


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