QUOTE AND NEWS
The Economic Times  Aug 4  Comment 
Platinum Guild India (PGI) on Thursday announced that platinum jewellery which starts at Rs 15,000 per piece will be available for Rakhi.
Automotive World  Jul 25  Comment 
New England Transit, a Thomas Built Buses dealership in Tyngsboro, Mass., is now Thomas Built’s newest Platinum Support certified dealer. The team at New England Transit underwent rigorous training and dealership improvements in order to reduce...
Wall Street Journal  Jul 25  Comment 
Platinum Partners, a New York hedge-fund firm facing a probe into alleged bribery, is also under investigation into whether it has been paying exiting investors with money from incoming ones.
newratings.com  Jul 25  Comment 
LONDON (dpa-AFX) - Anglo American (AAUKY.PK, AAL.L) said that it will report underlying earnings in respect of Anglo American Platinum Limited of $68 million for the six months ended 30 June 2016, which takes into account...
Clusterstock  Jul 20  Comment 
By Lawrence Delevingne (Reuters) - Platinum Partners, the hedge fund firm that was raided by federal agents in June, has appointed an independent monitor to oversee the liquidation of its main funds, according to a letter sent to investors...
BBC News  Jul 20  Comment 
A growing turf war between the two main unions in South Africa's platinum belt creates more unrest amid talks between producers and miners.
Clusterstock  Jul 15  Comment 
CARLETONVILLE, South Africa (Reuters) - Platinum mining firms and South African trade unions should conclude wage talks quickly to avoid the protracted disputes that led to a five-month strike two years ago, mines minister Mosebenzi Zwane said on...
guardian.co.uk  Jul 11  Comment 
Three Johnson Matthey employees who became sensitised to precious metal seek to pursue compensation claim in what could become landmark case Lawyers for three men who have become sensitised to compounds of the precious metal platinum are...




 
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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