Platinum Falls from 17-Week High on EU Concerns

Bloomberg reported that after a fantastic performance for almost 4 months, platinum has dropped as much as 0.5% on renewed concerns about Europe’s debt crisis.

As quoted in the market news:

Platinum for immediate delivery fell as much as 0.5 percent to $1,689.25 an ounce and was at $1,694.12 by 2:39 p.m. in Singapore. The price reached $1,707.87 yesterday, the highest since Oct. 9, on expectations that demand will pick up even as supply drops on production cutbacks.

Click here to read the full Bloomberg report.