Platinum Group Metals Price Bulletin - 21st June 2010 to 25th June 2010

Johnson Matthey London Base Prices at 0800 hrs, $/oz:

 PtPdRh
Monday 21st June   1604   499   2425
Tuesday 22nd June   1594   494   2425
Wednesday 23rd June   1578   484   2425
Thursday 24th June   1566   476   2450
Friday 25th June   1569   475   2450


The Chinese government announced plans to allow more "flexibility" in the Renminbi, in what the US government described as a “constructive step towards global economic recovery.” With the Dollar strengthening, gold pulled back from recent highs as investors liquidated holdings to raise quick cash to re-invest in currencies.


Platinum

Commentators were predicting a stronger Yuan would make platinum cheaper to buy in local terms in China, the worlds largest consumer of the metal. Prices moved significantly higher at the start of the week before falling away amidst fears of slowing global economic growth and profit taking. As physical demand from the Far-East re-emerged at lower price levels, however, investor liquidation softened.


Palladium

Also predicted to benefit from the removal of the Dollar peg from the Yuan because of its extensive use in both autocatalysts and jewellery in China, palladium started the week strongly but then faded along with the rest of the precious metals complex.


Rhodium

Continuing good demand from Far-East buyers supported rhodium price levels following the metal’s recent moves lower. With European consumers also showing interest, prices moved higher toward the end of the week.



Johnson Matthey,
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Hertfordshire SG8 5HE,
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