Platinum Group Metals Price Bulletin - 1st March 2010 to 5th March 2010

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

 PtPdRh
Monday 1st March   1547   436   2575
Tuesday 2nd March   1554   440   2575
Wednesday 3rd March   1580   445   2575
Thursday 4th March   1573   450   2575
Friday 5th March   1580   468   2575


Greece’s debt issues remained at the forefront of investor concerns but an outline plan to cut its deficit by 4 percentage points improved confidence and there was a strong response to their Eurobond issue - the first step in the rescue plan. The dollar softened, benefiting precious metals and gold traded up to $1,141 before slipping back. Meanwhile copper prices increased as a result of the earthquake in Chile, the largest producer of the metal, and this helped to buoy other metals, including the PGMs.


Platinum

February’s auto sales reports were positive and perhaps reflected in the platinum price which climbed steadily through the first half of the week. It faltered as the U.S. platinum ETF saw its first sizeable liquidation, shedding 25K oz, but the lost ground had been regained by the weeks end.


Palladium

The U.S. palladium ETF has been stuck at 470K oz for a couple of weeks now but the metal continued to outperform the other precious metals. It made steady progress higher throughout the week and by Friday was within $5 of a two year high.


Rhodium

Although rhodium appeared to have found comfortable ground at $2,575, sentiment at the weeks end was sounding lower.



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