Morning Platinum Market Report 10/8

  on October 08 2012 10:55 AM

The platinum market has started out this week under pressure, with prices falling more than $50 below last Friday's highs for the move. While there is still labor unrest throughout the South African mining industry, some traders feel that negative tone from outside markets will be the main source of weakness for January platinum this morning.Other traders feel that the prospect of tight South African supplies due to current labor problems will keep platinum prices well supported in close proximity to their recent highs. While some major press outlets overnight are suggesting that ongoing labor unrest in South Africa is likely to underpin platinum prices, a fresh risk-off/fear of recession mentality may put platinum prices under pressure during today's session. 

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