Platinum ETFs Set For Biggest Inflow

Reuters reported platinum exchange traded funds are set for their biggest one-month inflow in 18 months in August after deadly violence at a mine in South Africa.

As quoted in the market news:

Production at the Marikana platinum mine, operated by number three producer Lonmin , remains suspended two weeks after clashes between unions led to the death of 44 people, including 34 striking miners shot dead by police.

Platinum prices rose 12.7 percent in the seven days after the outbreak of violence to a 3-1/2-month high of $1,558.49 an ounce and are currently holding near $1,500.

Click here to read the full Reuters report.