QUOTE AND NEWS
The Hindu Business Line  Jan 19  Comment 
Ford India today launched an upgraded edition of its popular compact SUV EcoSport priced at Rs 10.39 lakh and Rs 10.69 lakh (ex-showroom Delhi).The new EcoSport ‘Platinum Edition’ will be sold with t...
Forbes  Jan 15  Comment 
The V-Moda Forza Metallo Wireless are Bluetooth in-ear headphones with unique custom tips, some of which are platinum and cost $7500! Here's a preview.
DailyFinance  Jan 12  Comment 
Filed under: Entertainment, Celebrity Style New year, new Celine Dion! The 48-year-old singer has gone (nearly) platinum! Dion revealed her new 'do in an Instagram snap with makeup artist Charlotte Tilbury, and to say she rocks the look is an...
Forbes  Jan 10  Comment 
Microsoft released an official statement today explaining that the Platinum Games developed Xbox One exclusive 'Scalebound' has been cancelled.
Yahoo  Dec 24  Comment 
When six executives of Platinum Partners, including founder Mark Nordlicht, were arrested on Monday on federal charges of running a more than $1 billion hedge fund fraud, people who had long alleged they were harmed by the New York-based firm felt...
Forbes  Dec 23  Comment 
The upcoming Platinum Games developed Nier: Automata now has a new demo available on PS4.




 
TOP CONTRIBUTORS


Platinum is an exceedingly rare, silvery-white precious metal used in jewelry making, electronics components and various industrial applications. About half of all global platinum consumption is for the manufacture of automobile catalytic converters. [1]

Platinum is exceedingly rare (about 30 times rarer than gold) and found in only a few deposits worldwide. The largest known primary reserves are in South Africa's Bushweld complex, followed by deposits near Norilsk, Russia and the Sudbury Basin, Canada.

The chart at left shows continuos front-month futures prices for Platinum traded on the New York Mercantile Exchange.

Prices, Tickers, and Delivery Dates

Platinum futures contracts are traded on the New York Mercantile Exchange under ticker symbol PL and are delivered every year in January, April, July, October, November, and December. (For more information on commodity tickers, check out the commodity ticker construction page.)

What Impacts the Price of Platinum?

Because so much of the platinum's demand stems from car manufacturers, downturns in the auto industry can significantly affect the metal's price. During the market meltdown in 2008, for example, platinum prices fell 65% from their peak, driven downward in part by faltering car sales worldwide.

In addition, in 2008 platinum experienced a surplus that is expected to continue well into 2009, and perhaps even 2010. This oversupply has also negatively impacted platinum prices.

However, in early 2009, platinum started to regain its strength. As investors returned to the metal, seeking a safe haven, holdings of ETF Securities's Physical Platinum ETF (LSE: PHPT.L) rose 87% over the first quarter of the year.[2]

In April 2009, ETF Securities announced it would launch a bullion-backed platinum ETF in the U.S.[3] (a similar ETF already exists for European investors), which led some to speculate that hoarding bullion for the ETF could cause shortages and drive up prices.[4] Similar concerns were raised about the launch of ETFS's first platinum ETF back in 2007, but the fund's impact on the market was hard to discern at the time, due to roving blackouts in South Africa that had disrupted supply.[5]

References

  1. Bloomberg - Platinum, Palladium Fall as Slumping Auto Sales Erode Demand.
  2. Reuters - ETF Securities' platinum holdings jump in Q1.
  3. Index Universe - ETFS Files for Palladium and Platinum ETFs.
  4. WSJ - Platinum's Outlook Isn't Gold-Plated.
  5. HAI - Platinum Supplies Hoarded By ETF.
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