Platinum prices have moved higher during early Thursday morning trading, appearing to find carryover support from the gold market. Some traders feel that platinum may have found benefit from gold strength, particularly with platinum trading at a discount to gold prices. The platinum market appears for many traders have completely discounted news of rising production from an Australian platinum miner overnight, as that company had negative earnings results during a period with a 15% increase in production. Japanese Machinery Orders during June were up 7.7%, higher than market expectations and may indicate strong industrial platinum demand from that nation during the near future.
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