US platinum slips on dollar’s rebound

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Wed, Aug 27, 2008

Natural Resource Market News
Post by Melissa Pistilli, Resource Reporter

Platinum Investing News reports prices of platinum slipped on Monday as the US dollar rebounded against the currencies, euro and pound.

Platinum is often used by investors as a hedge against a weakening dollar, so the dollar’s recovery has made the metal less attractive. Platinum futures for September delivery fell US$6.20 to settle at US$1,435 an ounce on the New York Mercantile Exchange.

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