The platinum market appeared for many traders to find little support from long-term private price forecasts overnight that put platinum prices roughly $300 an ounce above their current price levels by early next year. There is some agreement that platinum was apparently undermined by weakness in gold and silver overnight, which suggests the platinum market may be vulnerable to further slowing fears as well as negative Euro zone debt headlines. There are expectations that platinum might rebound sharply if the Euro zone bailout plan comes together and the Euro zone rescue fund is ultimately raised the 2 trillion Euro level. German PPI during September was up 5.5% year-on-year, roughly in-line with market forecasts and could project steady industrial platinum demand from German automakers through the rest of this year.
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