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Platinum extends losses to 5 pct as precious metals slip

Posted on 03 October 2008

From Ninemsn.com.au: Platinum extended losses to more than 5 percent on Thursday, tracking a decline in other precious metals, as a strengthening dollar added to the negative impact of fears over falling demand.

The white metal shed 3 percent in early trade after lower-than-expected U.S. car sales fuelled fears over falling demand. A firmer dollar has since knocked gold 4 percent lower and silver down 12 percent, and is also pressuring platinum. Spot platinum was quoted at a session low of $966.00/986.00 an ounce at 1500 GMT, against $1,020 an ounce in late New York trade on Wednesday….. Full Article: Source


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