QUOTE AND NEWS
Market Intelligence Center  Jul 3  Comment 
Thanks to a stronger dollar led by expectations of higher interest rates, many of the commodities have been reeling under pressure this year. The broad-based DB Commodity Index Tracking Fund (DBC) is down 4.5% this year, indicating that the pain...
guardian.co.uk  Jul 3  Comment 
The inquiry into the killing of 34 South African miners in 2012 is out. Its most strident conclusion? That there should be more inquiries Almost three years have passed since 34 men were shot dead on a hillside in South Africa, after asking for a...
Reuters  Jul 1  Comment 
Morocco's Platinum Power, a subsidiary of U.S. private equity firm Brookstone Partners, plans to invest 500 billion CFA francs ($845.87 million) to build a hydroelectric...
Mondo Visione  Jun 25  Comment 
Final settlement price of Gold mini for June 2015 contract is 4,690 yen. Final settlement price of Platinum mini for June 2015 contract is 4,278 yen. 
Financial Times  Jun 23  Comment 
Management posts to be axed as precious metal miner reels from falling prices and rising costs
Wall Street Journal  Jun 22  Comment 
Platinum tumbled to a six-year low, weighed down by a surge in supplies since miners returned to work last year after a strike.
Forbes  Jun 18  Comment 
Try finding a platinum Patek Philippe Nautilus. Not easy. Now try finding a platinum Patek Philippe Nautilus with a ruby-set bezel and dial. Rather impossible.
The Hindu Business Line  Jun 17  Comment 
The V IT Park, located within HITEC City, Hyderabad and managed by Ascendas, has been awarded the Platinum rating by the Indian Green Building Council (IGBC). The facility achieved the ra...
The Hindu Business Line  Jun 17  Comment 
The Hindu Business Line  Jun 16  Comment 
Number of outlets poised to rapidly grow




 
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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