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ETF Trends reported that the expectation that wage talks in South Africa will end badly has brought platinum exchange-traded products their largest inflows in more than eight months.
ETF Trends reported that the expectation that wage talks in South Africa will end badly has brought platinum exchange-traded products their largest inflows in more than eight months.
As quoted in the market news:
ETF Securities’ Platinum ETPs saw US$28mn of inflows, as the wage negotiation season in South Africa officially started last week.
Despite government efforts to prevent union rivalries from exacerbating the already tense situation, investors remain unconvinced. With over 70% of the world’s supply of platinum mined in South Africa, supply disruptions and political hurdles in the country can have a big impact on prices. Supply side issues in South Africa are likely to remain an important platinum price driver in 2013.