Platinum In A Rut, Just Like Europe's Diesel Market

By International Business Times,  July 20, 2012, 03:51:34 PM EDT

The price of platinum, the precious metal used to make anti-pollution equipment for vehicles, is in a slump due to the global economic downturn, but it's especially bad in Europe where platinum demand is greatest. Nevertheless, analysts are bullish, believing the price will rise in the latter half of the year and into the next.

According to a Reuters poll this week, the ongoing euro zone debt crisis will put a damper on the price of the metal to average $1,572 in 2012, $1,747.5 in 2013. But this forecast is a downward revision from three months ago, suggesting the market is becoming more cautious if not bearish.

Read More on International Business Times




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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