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Bloomberg reported that Chinese and German economic data showing that exports have rebounded is bullish for platinum as it indicates that metals demand will likely see a boost.
Bloomberg reported that Chinese and German economic data showing that exports have rebounded is bullish for platinum as it indicates that metals demand will likely see a boost.
As quoted in the market news:
‘Today’s strong economic data out of Europe and China is very bullish for platinum,’ Adam Klopfenstein, a senior market strategist at Archer Financial Inc. in Chicago, said in a telephone interview.
On the New York Mercantile Exchange, platinum futures for October delivery jumped 3.5 percent to $1,488.70 an ounce at 10:53 a.m., heading for the biggest gain since June 29, 2012. Through yesterday, prices fell 6.7 percent this year.