Platinum Sales Boos on Car Rebound

Bloomberg reported prices of platinum and palladium are expected to jump on increased car sales in the U.S.

As quoted in the market news:

The CHART OF THE DAY shows auto sales rose in five of the past six months and are running at the highest annual rate in four years. Platinum prices that are up 21 percent this year may advance 15 percent further to $1,950 an ounce, the highest since July 2008, Steel said. Palladium may reach $900 an ounce, up 26 percent from March 2 and the highest since 2001, he said.

Click here to read the full Bloomberg report.