QUOTE AND NEWS
Reuters  Aug 31  Comment 
South Africa's mining industry, unions and the government signed a broad plan on Monday to stem a wave of job losses triggered by falling commodity prices and soaring costs.
The Economic Times  Aug 28  Comment 
HSBC lowered its 2015, 2016 silver and platinum group metals price forecasts citing a recent drop in prices and weaker Chinese demand.
Mondo Visione  Aug 26  Comment 
Final settlement price of Gold mini for august 2015 contract is 4,368 yen. Final settlement price of Platinum mini for august 2015 contract is 3,749 yen. 
Reuters  Aug 24  Comment 
Gold edged higher on Monday to trade near a seven-week top as the dollar and shares tumbled on concerns about the Chinese economy and uncertainty over the timing of a U.S. rate rise.
Forbes  Aug 19  Comment 
While Kanye West focuses on debuting the first season of his Yeezy clothing line with Adidas, his music doesn't appear to have suffered from his attention shift. Over the past four months, the rapper has quietly earned gold and platinum...
Wall Street Journal  Aug 13  Comment 
After years of digging ever deeper to extract platinum from the ground, some miners of the precious metal are opting for a new strategy: starting over.
Forbes  Aug 11  Comment 
Canadian hip-hop superstar Drake has earned himself another platinum plaque. In just under six months, his mixtape-as-album If You're Reading This It's Too Late crossed the one million copy sales threshold, making it the first 2015 album release...
Forbes  Aug 8  Comment 
Do you have this relationship with your customers? This is the Platinum Rule of business, and it is a secret worth knowing.
GenEng News  Jul 31  Comment 
Eukaryotic genomes are organized into a finite number of linear double-stranded DNA molecules (chromosomes) ranging in length from kilobases to gigabases and containing unique and nonunique segments. To assemble a genome, DNA is extracted from...




 
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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