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Mineweb reported the platinum price is currently well behind that of gold, so with the gold price steady could platinum now also be at a turning point?
Mineweb reported the platinum price is currently well behind that of gold, so with the gold price steady could platinum now also be at a turning point?
As quoted in the market news,
The recent global stock market sell-off has not spared the PGM markets. During the August-September period, from peak to trough, gold fell 15% while platinum, the rarer precious metal, fell 22%. Year-to-date to 10 October, gold rose 18% while platinum fell 14%. At $1,537 per troy ounce, platinum bought only 0.91 ounce of gold today, the lowest level since at least 1987, according to Bloomberg.