QUOTE AND NEWS
The Hindu Business Line  Apr 14  Comment 
Punjab National Bank (PNB) has added 120 branches to its branch network of over 6,000 branches. The 120 branches were added across the country on the occasion of the 120th Foundation Day of the pu...
Wall Street Journal  Apr 14  Comment 
Platinum prices have surged as a mine-worker strike in South Africa and sanctions against Russia stoke worries about supplies of the metal.
Commodity Online  Apr 14  Comment 
Despite recent moves higher because of likely delay in interest rate hike by US Federal Reserve, weaker dollar and lower US Treasury yields, gold is destined to move lower, Barclays said in a weekly report.
DailyFinance  Apr 11  Comment 
VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA -- (Marketwired) -- 04/11/14 -- Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group" or the "Company") reports the Company's financial results for the six months ended...
SeekingAlpha  Apr 11  Comment 
By Stephen Simpson, CFA: As was the case when I wrote about South African platinum producer Aquarius (OTCPK:AQPTY), I can't help but feel a little sorry for management Impala Platinum (OTCQX:IMPUY) (also known as "Implats"). Dealing with the...
DailyFinance  Apr 11  Comment 
CHANDLER, AZ--(Marketwired - April 11, 2014) - ResultsPositive, HP Platinum Partner, today announced that it has expanded its cloud portfolio with new solutions and services that offer enterprises greater agility, simplified management, and...
DailyFinance  Apr 10  Comment 
SAN DIEGO, CA -- (Marketwired) -- 04/10/14 -- Barona Resort and Casino Platinum Club Barona members will have a chance at hundreds of dollars in prizes during Platinum Days on Tuesday, April 15 and Tuesday, April 29. Every 15 minutes from 10...
Resource Investor  Apr 10  Comment 
A strike at the world’s three biggest producers crippled output.
SeekingAlpha  Apr 9  Comment 
By Fincom Investment Partners: While we endorse free speech and free markets, and after 30 years in the investment business we have about seen it all, a recent Seeking Alpha article with a one-sided attack on Wellgreen Platinum (OTCQX:WGPLF) is so...




 
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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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