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Bloomberg reported that platinum prices recently sank to a one-month low on the back of concerns over slowing economic growth in China.
Bloomberg reported that platinum prices recently sank to a one-month low on the back of concerns over slowing economic growth in China.
As quoted in the publication:
China’s industrial output missed economists’ forecasts, while investment rose at the slowest pace in 15 years, figures showed over the weekend. Platinum fell in the past three weeks amid speculation ebbing demand will shrink the supply shortage for the metal, which is used in pollution-control devices for cars.
Platinum futures for October delivery slid 1 percent to settle at $955.40 an ounce at 1:16 p.m. on the New York Mercantile Exchange, after falling to $952.20, the lowest since Aug. 7. Palladium futures for December delivery dropped 0.5 percent to $587.80 an ounce.