Platinum Group Metals Price Bulletin - 24th May 2010 to 28th May 2010

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

	Pt	Pd	Rh
Monday 24th May	1530	450	2675
Tuesday 25th May	1495	430	2675
Wednesday 26th May	1526	450	2675
Thursday 27th May	1546	449	2675
Friday 28th May	1560	469	2675

European markets continued to flounder as the depth of the problems in Spain were confirmed by the government bailing out a major regional bank. Gold edged higher, benefitting from it's "safe-haven" appeal and initially dragged the pgm with it, before concerns over industrial recovery pegged them back briefly. Mounting tensions between North and South Korea added to investor nervousness strengthening gold’s appeal but as a semblance of calm returned to the market, equities and industrial commodities began to trade higher again.

Platinum

As the market slowly recovers from the liquidation seen last week, platinum continuing to make gains. After the most significant move lower since 2008, industrial consumers and Chinese jewellers saw the opportunity for bargain hunting. This helped to support prices but adding to the upward pressure was news that Lonmin had suffered another production set back - it's number one furnace shutting down again, only shortly after being repaired.

Palladium

Also bouncing back, palladium received some initial impetus from Russian published comments that the market may not see any more selling from their state stocks.

Rhodium

Some light buying interest emerged in the rhodium market preventing prices from drifting lower.

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