The platinum market appears for many traders to have discounted the threat of economic slowing that may be indicated by recent US data. US auto sales figures later today could have a large impact on platinum prices, which had a negative reaction to the sluggish Chinese PMI number. Some traders feel that the platinum market has been economically sensitive but the market may receive some support this morning from an apparent "official" conclusion to the US debt crisis. Euro zone PPI during June was up 5.9% year-on-year, in line with estimates and could reflect strong industrial platinum demand from Euro zone automakers.
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