While the market has been relative quiet this morning, April platinum prices are sitting roughly $35 an ounce below this week's highs. Strong US auto sales data this week, gains in the equity markets and a weak Dollar have all been seen as positive factors for the market. Platinum prices were also thought to have been supported by positive Chinese demand talk overnight from a European bank. China announced that they will increase their defense budget by over 12% this year, which could increase industrial platinum demand from that nation over the balance of this year.
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