Morning Platinum Market Report 10/17

 
on October 17 2012 10:29 AM

January platinum has posted sizable gains during overnight trading and has reached the highest price levels since October 12th. Lingering labor problems in several South African mines appears to have offset news that some mine workers had returned to work for a major South African platinum producer. Platinum may have found considerable benefit from positively received US economic data, which suggests for some traders that platinum may be getting beyond the need for signs of additional easing and that the market might now be in a position to benefit from evidence of US growth.

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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

 

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