Platinum Group Metals Price Bulletin - 7th December 2009 to 11th December 2009

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

 PtPdRh
Monday 7th December   1436   371   2425
Tuesday 8th December   1452   369   2300
Wednesday 9th December   1418   370   2300
Thursday 10th December   1421   364   2200
Friday 11th December   1429   367   2175


Despite market volatility the underlying trend for the week was a strengthening dollar and lower commodity prices. Gold dropped as low as $1,125 on Tuesday as 13.72 metric tons were redeemed from SPDR Gold Shares, the world’s largest gold ETF.


Platinum

As with other commodities, platinum enjoyed a bit of a roller coaster ride this week with prices considerably down on last week’s 15 month high.


Palladium

It might have fallen short of the $400 mark this time around but palladium’s recent price levels appear to be sufficiently attractive for North American Palladium to announce they are restarting their Lac Des Iles operations in Ontario that were mothballed in October 2008.


Rhodium

With the market continuing to show signs of weakness rhodium continued to slide lower, albeit at a more gradual pace than in the last couple of weeks.



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