Battered platinum gets some relief

Platinum Investing News reports platinum prices moved higher after oil prices surged on Tuesday.

Platinum was trading at US$1035.00 ounce, up US$56.50 from New York’s close. Overall, weakness in the dollar, the recovery in equities and fresh optimism over the economic outlook sparked buying of commodities in earlier trade, with oil and industrial metals all trading higher after heavy losses last week. The rise in the metals gave relief to some mining stocks after last week’s market flop. African Rainbow Minerals rose 6.2 per cent AngloGold Ashanti jumped 9.79 per cent and Anglo Platinum hopped up 9.42 per cent.

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