Platinum Rises Slightly, Hitting $1,406.75 per Ounce

Bloomberg reported that platinum rose 0.2 percent, hitting $1,406.75 per ounce, as the South African rand pulled back from a five-year low.

As quoted in the market news:

Emerging-market assets, including currencies, were sold off yesterday as investors’ risk appetite declined amid rising interest rates in the U.S. Gold, traditionally a safe-haven against inflation, rose 0.5 percent to $1,230.49 per ounce while platinum gained 0.2 percent to $1,406.75 per ounce.

The rand is leading gains among major emerging-market currencies tracked by Bloomberg today after being the biggest decliner yesterday.

Click here to read the full Bloomberg report.