The platinum market has extended an upside breakout today, as the fundamental storyline remains definitively upbeat. While the big picture macro economic environment is supportive of platinum prices this morning, platinum also seems to be receiving strength from favorable internal fundamental developments. In fact, with Anglo American platinum overnight posting a decline in refined platinum production of almost 20% and market also seeing a warning of lower production from Lonmin, many traders feel that there have been at least two positive developments from the supply side of the equation. As in the rest of the metals complex, platinum also seems to be garnering a portion of its support over the last 24 hours from the promise of additional quantitative easing from the Federal Reserve in the event it is needed.
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