QUOTE AND NEWS
newratings.com  Sep 16  Comment 
WASHINGTON (dpa-AFX) - LMI Aerospace, Inc. (LMIA), a supplier of structural assemblies, kits and components, late Monday announced that its unit Tempco Engineering, Inc. has been awarded by Northrop Grumman Corp. (NOC) as a Platinum Source...
WA Business News  Sep 15  Comment 
Gold futures closed with a slight gain on Monday as some investors saw a bargain in the wake of recent declines, while platinum closed near a nine-month low as worries about demand weighed on investor interest.
SeekingAlpha  Sep 15  Comment 
By Fincom Investment Partners: (Editor's Note: Investors should be mindful of the risks of transacting in securities with limited liquidity, such as WGPLF. Wellgreen Platinum's listing in Toronto, WG.TO, offers stronger liquidity.) Wellgreen...
DailyFinance  Sep 15  Comment 
REGINA, SASKATCHEWAN -- (Marketwired) -- 09/15/14 -- Farm Credit Canada's (FCC) Drive Away Hunger campaign has attracted a record number of platinum and national partners to help reach this year's goal of collecting three million pounds of food...
SeekingAlpha  Sep 13  Comment 
By Itinerant: Wellgreen Platinum (OTCQX:WGPLF) is a junior exploration company developing the polymetallic Wellgreen project in Canada's Yukon Territory. A name change from Prophecy Platinum to its current company name, some fresh faces in the...
Reuters  Sep 9  Comment 
Gold prices fell below $1,250 an ounce on Tuesday, as technical selling and speculation that the U.S. Federal Reserve and other central banks would hike interest rates earlier than expected sent prices to a three-month low.
DailyFinance  Sep 9  Comment 
International IT Services Leader Signs Platinum Partnership With Pegasystems to Expand Global Business Opportunities in Key MarketsCAMBRIDGE, MA -- (Marketwired) -- 09/09/14 -- Pegasystems Inc. (NASDAQ: PEGA), the software company powering the...
DailyFinance  Sep 9  Comment 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/08/14 -- Wellgreen Platinum Ltd. (TSX VENTURE:WG)(OTCQX:WGPLF) is pleased to announce the filing of the technical report with respect to the updated and expanded mineral resource estimate for its...
DailyFinance  Sep 8  Comment 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/08/14 -- Wellgreen Platinum Ltd. (TSX VENTURE: WG)(OTCQX: WGPLF) is pleased to announce the filing of the technical report with respect to the updated and expanded mineral resource estimate for...




 
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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