The platinum market started out under pressure this week, with prices reaching their lowest levels since late January. As in the rest of the precious metals markets, platinum appears to have been weakened by negative macro economic sentiment. In addition to residual slowing fears from sluggish economic data last week from the US, many commodity markets are seeing fresh Euro zone debt concerns again and adverse currency market action. With extensive weakness seen in many world equity markets, many traders feel that platinum as well as many other physical commodity markets are likely to start out the new trading week on the defensive.
Join the Discussion