Platinum Group Metals Price Bulletin - 23rd August 2010 to 27th August 2010

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

 PtPdRh
Monday 23rd August   1513   484   2125
Tuesday 24th August   1502   480   2125
Wednesday 25th August   1515   488   2125
Thursday 26th August   1538   500   2125
Friday 27th August   1535   503   2125


Oil shrugged off weakening global growth and surging supply to hold near the $75 mark and commodities started the week with a little spring in their step. Tuesday brought a general weakness across the board, however, with even the typical “safe haven” play, gold, giving up more than $10, as the dollar strengthened against the euro. Order was restored quickly as equity markets put the brakes on the recent slide, but again it was commodities, particularly the white industrial metals that made the better of the running.


Platinum

Good news out of South Africa, Impala and the NUM agreeing on a settlement that averted a potential strike, saw platinum prices start low and fall further in Tuesday’s general malaise. Prices approaching $1,500 then attracted good activity on the Shanghai Gold Exchange, underpinning the market and sparking a mini-recovery - news of increased marketing activity for diesel in Japan adding to the positive tone.


Palladium

A much more robust performance was seen from palladium as it withstood the downward pressures well before breaching the $500 level and holding on to its gains with ease.


Rhodium

Seeing solid trading around the JM base of $2,125, rhodium remained unchanged all week.



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