GM bankruptcy lends relief to platinum

- June 5th, 2009

Platinum Investing News reports platinum prices doing well with GM bankruptcy. Platinum suffered major setbacks last year, as auto sales grinded to a halt.  However, as shrinking auto demand sent prices on a downward spiral, the market got an unexpected boost from bullish investors and jewellers.  In 2008, 47 per cent of platinum demand came … Continued

Platinum Investing News reports platinum prices doing well with GM bankruptcy.

Platinum suffered major setbacks last year, as auto sales grinded to a halt.  However, as shrinking auto demand sent prices on a downward spiral, the market got an unexpected boost from bullish investors and jewellers.  In 2008, 47 per cent of platinum demand came from the auto sector, a 49 per cent decline in comparison to 2007.  Although jewellery and investment have lifted the metal, a full recovery is expected only when carmakers experience a turnaround.

For complete story, click this link.

Follow developments in resource mining and exploration for free.

Sign on to The Resource Stock Watch.

Tags

Leave a Reply