Platinum Group Metals Price Bulletin - 2nd August 2010 to 6th August 2010

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

	Pt	Pd	Rh
Monday 2nd August	1590	500	2225
Tuesday 3rd August	1593	513	2225
Wednesday 4th August	1595	508	2225
Thursday 5th August	1578	495	2225
Friday 6th August	1574	500	2175

A broad-based risk-on rally saw global stock markets soaring at the start of the week and commodities tagged along for the ride. Lingering doubts about the global recovery continue, however, and mixed economic data on Tuesday quickly turned the risk switch to the off position. Gold was the exception, its move to the upside attributed to reports that China has moved toward deregulating its internal market.

Platinum

Last week showed a sharp rise in platinum’s backing from investors, with net longs up by more than 15%. As wage talks between the National Union of Mineworkers and Impala Platinum stalled and a strike the likely outcome, platinum leapt higher. Strong sales results from car companies globally maintained price levels before they fell prey to the general malaise that affected the markets in the second half of the week.

Palladium

Breaking the $500 barrier for the first time in nearly 3 months, palladium is also riding high with investors, the NYMEX book being up close to 9% last week.

Rhodium

Unchanged for most of the week, rhodium eventually succumbed to market conditions and fell slightly at the end of the week.

Johnson Matthey,
Orchard Road,
Royston,
Hertfordshire SG8 5HE,
United Kingdom