| From theaureport.com : JPMorgan cut its price forecasts for platinum group metals and targets for producers, due to worsening economic conditions. "We think the party may be over for platinum for now," a research note from Johannesburg-based analysts Steve Shepherd and Allan Cooke said. "Notwithstanding a wide range of uncertainties, we're not altering our positive longer-term views."
The investment bank cut its 2008 price target for platinum to $1,885 an ounce from $2,156 and for 2009 to $1,650 from $1,981. The spot platinum price has slid 13 percent to $1,745 over the past two weeks......Full Article Source |