Platinum Group Metals Get Defensive in 2012

Kitco reported platinum group metals are likely to take many hits and be on the defensive in early 2012.

As quoted in the market news:

The PGMs are expected to eventually get their second wind and start fighting back. The big question will be what round this occurs in—whether it could be as early as the second or third quarters of this year, or whether it will be the fourth quarter or later.

The answer hinges on when some of the global macroeconomic worries abate, such as the European sovereign-debt crisis and a cooling in the economy of key commodities consumer China.

Spot platinum fell from $1,912.20 an ounce in August to $1,397 the end of the 2011, according to one charting service.

Click here to read the full Kitco report.