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Platinum rallies over 4 percent on firm gold

Posted on 14 October 2008

From Ninemsn.com.au: Platinum jumped more than 4 percent on Tuesday to track firmer gold, with gains in Tokyo futures offering extra incentives for speculators to buy the metal mainly used in autocatalysts.

Platinum was trading at $1,018.50 ounce, up $40.00 from New York’s notional close. Platinum was well below a record high of $2,290 struck in March. Gold was up almost 2 percent to track rising oil prices, while the most active platinum contract on Tokyo futures rose 140 yen per gram as speculators returned to the market after a long weekend holiday….. Full Article: Source


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