More from FXstreet.com

Forex Flash: Precious metals complex dominated by news of strike at Lonmin’s Marikana platinum mine - Standard Bank

By FXstreet.com,  August 20, 2012, 09:57:00 AM EDT

FXstreet.com (Barcelona) - The violently suppressed strike at the South African Lonmin's Marikana platinum mine continued to be one of the most important news over the weekend. After the shooting during which 34 workers were gunned down by the police and 78 other were injured, employees were told that unless they come back to work on Monday they will face dismissal.

Due to the conflict tensions have risen between the NUM and AMCU mine unions which, according to Leon Westgate from Standard Bank, "will continue to be a key issue affecting mine output for the remainder of this year."

Still, the analyst remarks that "So far platinum has stabilised heading into Monday afternoon with prices trading more or less around its 100-day MA at $1,471."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



Latest News Video



Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%