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Cloud Computing  6 hrs ago  Comment 
i365, Inc., A Seagate Company (NASDAQ:STX) and a Microsoft Gold Certified Partner, today announced that it is a Platinum Sponsor of the Microsoft Efficiency Launch. As a platinum sponsor, i365 is partnering with ...
Mining Weekly  Nov 6  Comment 
JSE-listed platinum producer Impala Platinum (Implats) on Friday reported that Dr Fred Roux has resigned as an independent nonexecutive director, with immediate effect. The resignation followed discussions in the aftermath of Roux`s replacement...
Sydney Morning Herald  Nov 6  Comment 
Since I was young, I've been interested in learning from successful people. Platinum's Kerr Neilson is one of them.
Marketwire  Nov 6  Comment 
LOS ANGELES, CA -- (Marketwire) -- 11/06/09 -- Heart-healthy baked treats, Fox 21 TV project, FDA approval imminent for IMGG, Forex, bond markets and flame retardants; this week on MoneyTV, hosted by anchor Donald Baillargeon. MoneyTV is the
Simoleon Sense  Nov 5  Comment 
Richard Bookstaber is the author of  A Demon Of Our Own Design and was a recent participant of the Buttonwood Gathering. This topic is pretty polemic, enjoy! Introduction (Via Richard Bookstaber Blog) I participated in an Oxford-style debate...
Agoracom  Nov 5  Comment 
Freewest Update on Exploration Activities on Its 100%-Owned McFaulds Property, Northern Ontario MONTREAL, QUEBEC--(Nov. 5, 2009) - - Drilling delineates potential mineral deposit at Black Thor occurrence ranging from 50 million to 60...
Mining Weekly  Nov 5  Comment 
Platinum major Anglo Platinum (Angloplat) announced on Thursday that it would terminate its secondary listing on the LSE. “Whilst the company remains cognisant of the interest of all shareholders, the rationale for delisting on the LSE is...
Commodity Online  Nov 5  Comment 
Recently Hollywood actor Hilary Swank arrived at the Middle East Film Festival resplendent in platinum jewellery. The Abu Dhabi held last month saw the Swank showing off glamorous platinum jewellery by prestigious designer Neil Lane.
Commodity Online  Nov 5  Comment 
China's gold demand has lagged behind the platinum group metals which are more in line with its share of global demand for base metals and concrete. So China's private market is hardly deluged with gold at this stage. And that's with or without...
Mining Weekly  Nov 3  Comment 
The board of platinum junior Wesizwe has asked the company's founding CEO Michael Solomon as well as fellow director Robert Rainey to step down "with immediate effect". A terse Stock Exchange News Service (Sens) announcement said that Wesizwe's...
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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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