Platinum Group Metals Price Bulletin - 4th January 2010 to 8th January 2010

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

 PtPdRh
Monday 4th January   1490   418   2550
Tuesday 5th January   1527   426   2650
Wednesday 6th January   1540   424   2700
Thursday 7th January   1555   425   2750
Friday 8th January   1548   426   2750


The New Year started off with a bang as optimism permeated the equities market. Commodities also improved as the dollar struggled, gold jumping 2.2% - its best day since early November. A “surprise” rate hike in China improved the dollars fortunes, however, pressuring gold to the downside.


Platinum

As 2010 began prices for both platinum and palladium resumed their pre-end-of-year rally. Speculative investment on the back of the US platinum and palladium ETF ruling was the logical explanation but positive reports out of the auto and truck industry also lent support. The move higher then accelerated as Susquehanna Capital Group, a leading market-maker, reportedly purchased shares equating to 10K oz of each metal. Momentum slowed at the end of the week on profit taking as short-term speculators took advantage of recent price volatility.


Palladium

See platinum commentary.


Rhodium

Rhodium was well bid and made steady progress higher throughout the fortnight.



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