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Bloomberg reported that platinum volatility hit its lowest level in nine years today due to reduced interest from investors.
Bloomberg reported that platinum volatility hit its lowest level in nine years today due to reduced interest from investors.
As quoted in the market news:
The 60-day historical volatility was near 11 today, after dropping to 10.94 on Sept. 5, the lowest since June 2005, according to data compiled by Bloomberg. Open interest in New York futures and options has declined in seven of the past eight weeks, while holdings in global exchange-traded products are at the lowest since late May.
Prices have retreated 5.8 percent since the end of June, on pace for the biggest quarterly loss in more than a year, amid signs of slowing economic growth in Europe. The region accounts for 25 percent of global demand. The European Central Bank last week unexpectedly cut interest rates and announced a bond-buying program in a bid to revive expansion.