Platinum – The Economic Times reported that Japan's Nomura has warned that as many as 121,500 jobs and 60 percent of South Africa's platinum production could be at risk in the next few years as a result of rising mining costs and political risks.
Articles Tagged "Platinum Market News"
Platinum – Mineweb reported that according to HSBC, the platinum deficit will reach 844,000 ounces this year. However, the bank has cut its 2013 price outlook for the metal to $1,580 per ounce from $1,710 per ounce, also lowering its 2014 forecast to $1,725 per ounce from $1,800 per ounce.
Platinum – Bloomberg reported that the CEOs of the world's biggest platinum companies, leaders of other South African mines, union heads and South Africa's deputy president met to try to smooth over union rivalry that has caused unrest — including deaths — over the past year.
Platinum – Reuters reported that the NewGold Platinum exchange-traded fund (ETF) now accounts for about 20 percent of the world's total platinum ETF holdings with 375,802 ounces. The fund has only been around since April 26.
Platinum – Mining Weekly reported that South Africa's platinum-group metals output fell 13.4 percent in April, making the second-biggest contribution to the country's 0.4-percent fall in mining production that month.
Platinum – The Financial Times reported that platinum prices are sitting at their highest level in six weeks as a result of increasing worries about unrest in South Africa, the launch of a new exchange-traded fund and increased demand for platinum jewelry.
Platinum – The Wall Street Journal reported that platinum futures came close to an eight-week high today on the back of worries about disruptions in supply from South Africa.
Platinum – Zacks Investment Research reported that investors interested in the ETFS Physical Platinum Shares (ARCA:PPLT) ETF should keep an eye on conditions in South Africa as violence and labor unrest could cause volatility for the ETF. For now, the firm is maintaining a "buy" rating on the fund.
Platinum – ETF Trends reported that the expectation that wage talks in South Africa will end badly has brought platinum exchange-traded products their largest inflows in more than eight months.
Platinum – MetalMiner reported that Japanese platinum bar prices rose by 0.9 percent while US platinum bar prices increased by 0.5 percent. It also noted that ETF Securities expects platinum and palladium prices to improve on the back of global growth and supply constraints.