Morning Platinum Market Report for 3/28/2011

By International Business Times,  March 28, 2011, 09:11:46 AM EDT

The platinum market has traded sharply lower overnight, and in the process the market reached the lowest level since March 21st. Many traders feel that platinum has not found much benefit from slightly higher equity market action, perhaps because the market over the weekend saw a number of reports that global manufacturing would be crimped because of the situation in Japan. Negative demand expectations from the global automotive sector are widely seen as a negative to platinum prices. Libyan rebels have succeeded in retaking several major oil terminals in the eastern part of that nation, which may reduce platinum's recent safe-haven support even further.




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, Commodities

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