| Glut of platinum comes partly from South African rand’s sharp depreciation against the dollar. A strong dollar is pressing down on platinum. The precious metal, whose uses range from car-exhaust filters to jewelry, tumbled to a six-year low on Monday, weighed down by a surge in supplies that stems in part from the South African currency’s sharp depreciation against the U.S. dollar.
Last year, a mineworkers’ strike crippled output in South Africa, the world’s biggest platinum producer. The speed of the industry’s recovery, stoked by the South African rand falling to a 14-year low against the dollar in early June, has taken investors and analysts aback...............................................Full Article: Source
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