The platinum market made a fresh new low for the move during overnight trading, and in the process January platinum slid to the lowest price levels since October 5th. As with the rest of the precious metals markets, platinum may be feeling pressure from ideas that the Euro zone crisis will continue to deflate macro economic psychology. With the recent negative outlook for gold from a noted gold analyst during the past 24 hours, some traders feel it possible that platinum prices will continue to trade lower with the rest of the precious metals complex. Euro zone Industrial Production during October was up 1.3% year-on-year, lower than expectations which could be an early sign of weaker industrial platinum demand from the Euro zone during the next few months.
Join the Discussion