Platinum prices overnight fell to a fresh new low for the move, and in the process January platinum reached the lowest price level since September 4th. Many traders feel that platinum hasn't been able to find much support from yesterday's news from Anglo American Platinum, who projected declining platinum production and declining capital expenditures that could reduce future output.
Another issue that platinum seems to have discounted is news of reduced platinum output from a Russian platinum miner Norilsk. Some in the market feel that news of reduced platinum production from outside the troubled South African region has not been given that much attention by the market, and that a stronger than expected US GDP report and a recovery in equities may be needed to lift prices.
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