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Is platinum an early sign of economic springtime?

Posted on 31 March 2009

From Busrep.co.za: While the global motor industry is still in disarray, platinum is looking pretty good. Having troughed in October at just more than $770 (R7 422 at the current exchange rate) an ounce, the metal hit a high of $1 153 on Friday - a recovery of nearly 50 percent - before retreating to $1 131.

According to Bloomberg, Deutsche Bank ascribed the improvement to “relatively robust” jewellery demand, while Reuters quoted Citigroup linking it to expectations that the US government would provide aid to its car makers. The metal is used in catalytic converters, which reduce pollution from cars…..Full Article: Source


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VRS - who has written 36568 posts on Opalesque Commodities Briefing.


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