January platinum could not sustain an early move to new highs and has fallen back into negative territory this morning. For the most part, prices have held onto recent gains that are nearly $80 above last week's lows for the move. Improving macroeconomic sentiment has been widely seen as the key factor for moving the market well clear of the recent lows. A major European trade house lowered its 2012 platinum price target by $75 an ounce, although that new target is still well above the current price levels. UK Industrial Production during August was up 0.2%, higher than expectations and may be an early indication of stronger UK industrial platinum demand through the rest of this year.
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