While platinum prices have posted significant gains early this morning, April platinum has not been able to take out Monday's high. Widely held ideas that rising inflationary expectations might increase investment demand for platinum, have in turn encouraged forecasts of a global supply deficit condition later on in the year. However, other traders feel that the platinum market may have been pressured by news of a weaker official Chinese Purchasing Managers number, and that the market will take some direction from US auto sales figures released during today's session. The European Commission has raised growth estimates for the EU during the rest of 2011, but also warned of the potential for rising inflation in the region which may help to support increased investment demand for platinum in the Euro zone during the rest of 2011.
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