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Platinum Rally Continues on Growing Supply Concerns Amid Cutifani Remarks
Feb. 07, 2013 05:07AM PST
Precious MetalsBloomberg reported that platinum rose for a fifth day to peak level in over 16 months on concerns that South African supplies will decline. The metal continues to perform well in spite of incoming Anglo American Plc CEO, Mark Cutifani’s comments that the industry has a lot of issues.
Bloomberg reported that platinum rose for a fifth day to peak level in over 16 months on concerns that South African supplies will decline. The metal continues to perform well in spite of incoming Anglo American Plc CEO, Mark Cutifani’s comments that the industry has a lot of issues.
As quoted in the market news:
Platinum for immediate delivery rose as much as 0.3 percent to $1,742 an ounce, the most expensive since Sept. 22, 2011, and was at $1,736.12 at 8:01 a.m. in London.