The platinum market at yesterday's lows was trading as much as $70 an ounce below the January highs. As with a number of other metals markets, predictions of a 2011 top in gold prices due to rising US interest rates was widely seen as putting heavy pressure on platinum prices. Some traders feel that platinum prices have not received much support from favorable news flow on the global economy, while other traders feel that platinum needs a steady FOMC statement or some concerns of slowing growth from the Fed to help support the market. The Japanese Ministry of Finance said that new issuance of Japanese government debt would be over 20% above their spending cap within three years, which may help to lift Japanese investment demand for platinum during that timeframe.
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