Markets

Morning Platinum Market Report

The platinum market appears to have indicated some minor weakness during early Thursday trading, despite initial gains for the silver market. Weakness in copper and energy prices along with a lack of direction for world equity markets were seen as the key negative factors for the market. Platinum as well as other physical commodity markets are indicating concern with the European Central Bank's monetary policy decision this morning, even as some traders feel that recent US central bank comments have indicated an extension of accommodative policies. While the platinum market recently received some favorable comments toward Ford Motor company shares, the overall tone of the Fed's Beige Book yesterday would appear to be somewhat restraining of platinum and other physical commodity prices. Japanese GDP during the first quarter was down 3.5% year-on-year, weaker than market expectations and may be an early indication of weaker industrial platinum demand from Japanese automakers for the balance of 2011.

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


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

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