QUOTE AND NEWS
Reuters  May 25  Comment 
Anglo American Platinum's bid to appease a community near its most profitable South African mine may unravel, highlighting the challenges of managing flashpoints of...
The Hindu Business Line  May 19  Comment 
There is now an app that will give users benchmark price of gold, silver and platinum. Launched by Riddhi Siddhi Bullions Ltd (RSBL), the app – RSBL SPOT App – is can be accessed both from an iPhon...
Financial Times  May 16  Comment 
Demand from the car and jewellery industries will not offset a lack of demand from investors
Financial Times  May 16  Comment 
South African platinum miner reports benefits of cost-cutting, strengthened balance sheet
The Economic Times  May 16  Comment 
Sankhya is a four storeyed building measuring a total of 30,000 square feet and occupying a footprint of 7,500 square feet. It began operations in February 2015.
newratings.com  May 16  Comment 
LONDON (dpa-AFX) - Platinum producer Lonmin plc (LNMIF.PK, LMI.L) reported Monday that its first-half loss before taxation was $21 million, narrower than last year's loss of $118 million. Loss per share was 1.8 cents, compared to loss of...
Clusterstock  May 15  Comment 
LONDON (Reuters) - Buoyant North American demand is a rare bright spot for the global platinum jewelry market after a sharp drop in prices boosted jewelers' margins, driving up consumption of the white metal by more than a third over the last six...
The Economic Times  May 12  Comment 
The Platinum 3G does not require additional subscription and the existing 3G customers will automatically enjoy the upgraded service.
Clusterstock  May 3  Comment 
Introducing the next level in luxury desserts: the $150 silver-and-platinum-coated tequila doughnut.  Yes, you read that right. The Patrón Platinum Donut is the creation of chef Björn DelaCruz of Manila Social Club, a Filipino restaurant...
Forbes  May 2  Comment 
Luxury doughnut disruptor's latest "stunt food" raises dough for charity.




 
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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