Platinum Group Metals Price Bulletin - 7th June 2010 to 11th June 2010

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

 PtPdRh
Monday 7th June   1500   423   2600
Tuesday 8th June   1530   436   2475
Wednesday 9th June   1530   446   2475
Thursday 10th June   1537   455   2450
Friday 11th June   1545   455   2425


Poor US employment data announced at the end of last week began to undermine investor confidence and as a 5% fall in the Hungarian Forint, renewed fears over European sovereign debt, oil and industrial metals traded lower. Gold benefited from its "safe-haven" status and rallied to $1,252, a new record, before drifting lower on profit taking.


Platinum

Pulled in two directions, platinum initially succumbed, along with other industrial commodities, Monday seeing it more than $60 down on last weeks peaks. Gold interest then appeared to lead investors to the pgm markets and, with good auto sales news out of the BRIC countries, prices recovered - steady industrial demand and continued physical buying from the Far East also providing support.


Palladium

Following a similar line to platinum, palladium spent the week recovering from the early dip.


Rhodium

Sustained selling pressure, and a lack of buying interest to soften the situation, had rhodium sliding backwards throughout the week.



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