The platinum market initially may have showed signs of strength overnight but the market was unable to sustain that rally and has fallen back into negative territory by this morning. Some traders suggest that platinum has little, if any EU deal factored into prices, as January platinum this morning has traded roughly $50 an ounce below the December highs and $150 an ounce below the November highs. Other traders feel that platinum will probably be undermined if the EU fails to get a strong deal but may be capable of rising sharply in the event that some type of acceptable deal is put into place. UK Industrial Production during October was down 0.7%, lower than expectations and may reflect weaker industrial platinum demand from the UK through the rest of this year.
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