Platinum Prices Break $1,000 per Ounce

On Monday, spot platinum prices broke the $1,000 level to trade around $1,000.08 per ounce. According to the Bullion Desk, that’s the first time the metal has risen that high since October 2015.
As quoted in the market news:

It was recently quoted at $997/1,002 per ounce, up $23 on the pre-weekend close. Trade has ranged from $975 to $1,001 so far.
“While platinum has taken its cue from gold, there are fundamental arguments that support the PGMs. It is perfectly feasible that platinum and palladium begin to take more direction from better industrial and good auto data,” HSBC analyst James Steel said.

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