Markets

Morning Platinum Market Report

July platinum has traded down to a fresh new low for the move this morning, and has reached down to the lowest price levels since March 29th. Strength in the Dollar, signs of ongoing trouble from the Japanese manufacturing sector and a general negative attitude toward physical commodity markets are widely seen as the key negative factors for the market. Although a platinum mining company announced a share buy-back program last night, that news was not expected to have a strong impact with the widely-held outlook of slowing global economic activity over the near future. The Japanese Trade deficit during May was 854 billion Yen, a larger deficit than market expectations and may be an early sign of weaker Japanese industrial platinum demand over the rest 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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