Further Downside Risks to Platinum Price

IBTimes reported platinum prices have suffered from significant sales pressure in recent weeks as concerns about the global economy grow.

As quoted in the market news,

Platinum and palladium are both used in the construction of catalytic converters, with prices of both precious metals strongly dependent on automobile sales. Analysts believe that demand for palladium and platinum will shrink among emerging countries, with further decreases in demand in the United States and the European Union. Also basic and non-ferrous metals such as copper, nickel, zinc and lead have already become a victim of recession fears – with the prices of these metals plummeting in recent weeks.

Click here to read the full IBTimes report.