Like the rest of the metals complex, platinum prices have started Friday's US trading action with moderate gains in the wake of the rather significant washout during the prior two trading sessions. With fears of global slowing and no aggressive action seen from central bankers at this week's meeting, it could take an upbeat US non farm payroll result to prompt additional gains in platinum prices to finish out today's session. News of a reduction in platinum margins at the CME overnight may prove to be supportive for platinum prices, but news of a restart of a recently idled platinum mine may leave the platinum market re-focused on the ebb and flow of macro economic views.Chinese Shares were mixed overnight, as Hong Kong shares finished lower and the Shanghai market was marginally higher. European shares were generally higher in the wake of gains in bank shares, but somewhat favorable data from the Euro zone overnight might have given platinum prices an additional source of support. In fact, Euro zone retail sales managed to rise for the second straight month and Germany managed a slight improvement in a private survey of German service-sector industries. However, the metals markets are widely expected to remain subdued until the US Non farm payroll report is released later this morning.
Join the Discussion