Platinum Funds Expanding Fastest in Metals as Lonmin Seen Doubling Profit

Bloomberg reports that investors expanded their platinum holdings in funds faster than for any other precious metal this year.

Global car and truck sales will climb 6.1 percent to 76.7 million units this year, according to Oxford, England-based J.D. Power Automotive Forecasting. The average auto catalyst contains 4 grams (0.13 troy ounces) of platinum, palladium or rhodium, according to London-based Johnson Matthey Plc, which supplies one in three of the devices. The canisters have honeycomb-like surfaces that convert emissions into less harmful substances and are installed on about 95 percent of new passenger vehicles.

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