The platinum market has moved lower this morning, but remains close to yesterday's 21/2 year highs and has moved roughly $123 an ounce above the early January lows. Some traders feel that platinum prices are feeling carryover pressure this morning from weakness in gold and silver prices, and may have been partly undermined by a hike in Chinese bank reserve requirements overnight. Other traders feel that with the platinum market reaching the highest level in 30 months yesterday, it is not surprising to see platinum's weakness in reaction to lower global equities and a tightening of Chinese policy. The French Economics Minister stated that the EU may be looking at increasing the size of their emergency rescue fund, which could result in increased Euro zone investment demand for platinum.
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