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Platinum slumps for sixth day as slowing growth reduces demand

Posted on 01 October 2008

From Bloomberg: Platinum fell for a sixth day and headed for its worst quarterly slide since at least June 1987 after car production in Japan showed the biggest drop in more than a decade as exports to the U.S. slowed.

Before today, the metal, used in car exhaust systems and jewelry, had lost 47 percent since June 30. Oil slumped more than $10 a barrel yesterday and U.S. stocks plunged after the rejection of a $700 billion U.S. financial rescue plan increased concern that slowing global growth will slash demand….. Full Article: Source


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