Platinum rebounds despite poor fundamentals

Platinum Investing News reports platinum regained in the New Year 2009.

In 2008, the metal went on a wild ride, hitting a peak of $2,290 per ounce, and then came crashing down to a three digit value. Despite the metal starting the year on a good note, RBC capital markets has cut its platinum price forecast for the next two years. Platinum was previously predicted to be valued at $1150 per ounce in 2009. The 2010 forecast is of $1300 per ounce. The re-evaluation is for the metal to be worth $1100 per ounce in 2009, and $1200 per ounce in 2010.

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