Following palladium’s remarkable near-three year gains bringing it to $828.80 on Wednesday, platinum also rose to reach its highest price since early March, Bloomberg reported. According to the publication, platinum futures for delivery in July rose 2 percent to $1,485.70 an ounce, trading as high as $1,487.60 throughout the
Bloomberg reported yesterday that platinum took its biggest fall in three months on news that South African miners may be making progress in an ongoing dispute with workers. Platinum futures for April delivery dropped by 2 percent to $1,400.70 an ounce on the New York Mercantile Exchange, according to Bloomberg.
Although platinum and palladium saw price drops on Monday, CNBC has pointed to a broader 5-percent jump in year-to-date platinum futures prices as well as a 7-percent price jump for its sister metal.
Frik Els of Mining.com reported that platinum prices fell by more than $20 per ounce on Monday while palladium prices also declined. According to mining, prices for the metals are not reacting as expected to supply squeezes from Russia and South Africa, especially in light of revived demand from the
Bloomberg reported that platinum futures for January delivery rose 0.5 percent, to $1,418.10 per ounce, on the New York Mercantile Exchange. Earlier in the day, the price hit $1,405.10.
The Wall Street Journal reported that platinum fell to $1,329.10 per troy ounce today, its lowest level since October 2009. The metal has fallen 14 percent so far this year. However, the weakened South African rand means that miners are not short on cash.
The Wall Street Journal reported that platinum futures came close to an eight-week high today on the back of worries about disruptions in supply from South Africa.
Bloomberg reported that platinum futures for July delivery declined 1.6% as the global economy continue to improve, cutting the demand for haven assets.
Bloomberg reported that platinum futures for April delivery went down 1.6%, reaching its lowest level in 6 weeks, on signs that Europe is still struggling to recover from an economic crisis.
The Wall Street Journal reported that platinum futures ended in negative territory on Wednesday amid forecast of poor economic growth in Europe.