Platinum Resumes Rally to a 6-week High

Platinum rallies to a 6-week high at 1618.2 in European session. Comments by Norilsk's Anton Berlin that palladium price should be supported by strong jewelry, industrial and new investment demand probably boosted others in the PGMs. In fact, the threat posed by disruptions in South African mines will be more severe in platinum supplies than palladium supplies as the country contributes over 70% of the world platinum production but around 35% of palladium production. Palladium remains firm but stays below the decade-high level at 481.95.

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Platinum Resumes Rally to a 6-week High