Morning Platinum Market Report 10/3

By Roger Baettig | October 03 2012 10:27 AM

While January platinum overnight temporarily fell below the prior session's low, the market has seemingly re-gathered strength and has returned in close to this week's highs. Some traders feel that the market is probably garnering some support from ongoing labor problems in South African mining operations, as striking workers actions are apparently restricting output. Platinum recently has tended to trade "in sync" with copper instead of gold, which suggests to other traders that platinum is focused on forward motion in the global economy and not so much on the ebb and flow of US easing prospects.

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