Wednesday, November 14, 2007
Platinum gains on prediction of supply deficit
Story link: Platinum gains on prediction of supply deficit
by Elaine Frei
by Elaine Frei
The price of platinum saw its biggest one-day gain in six months on Wednesday after a prediction by Johnson Matthey (LSE: JMAT) that the metal, used in the manufacture of pollution control devices as well as in jewelry, would see its biggest gap between demand and supply in four years.
January platinum added $33.80 in New York to $1,446.10 per troy ounce.
Also contributing to the price gains for platinum and other precious metals was another weak day for the US dollar.
December gold gained $15.30 to $814.30 per troy ounce, while December silver was up 46 cents to $15.07 per troy ounce.
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