Platinum prices have traded lower this morning, and are approaching last month's lows for 2011. Some traders feel that the platinum market has the look of a physical commodity market facing a further erosion of the global economic outlook. While favorable US and Japanese auto sales figures yesterday were widely thought to be a positive factor for platinum, news overnight of a possible trade war between the US and China may have mitigated that support. In addition to a downward price projection for platinum from a major brokerage firm overnight, the platinum market is expected to see continued pressure from a stronger Dollar and from further weakness in global equity markets.
Join the Discussion