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Reuters reported spot platinum was down 1.2 percent at $1,612.75 an ounce in precious metals trading on Thursday.

Reuters reported spot platinum was down 1.2 percent at $1,612.75 an ounce in precious metals trading on Thursday.

As quoted in the market news:

The metal has fallen by more than 5 percent this week, on track for its biggest weekly drop since December, as strike action at third largest miner Lonmin wound down.

Thousands of miners at Lonmin’s Marikana operations in South Africa returned to work on Thursday after a hefty pay hike ended a six-week strike, but nearby mines faced more industrial action with workers demanding similar raises.

Click here to read the full Reuters report.

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