Wednesday December 19, 2007

Platinum price hits a record high

miningmx.com :

Platinum set a record high on Tuesday [18 Dec 2007] as strong industrial demand and market tightness prompted speculators and consumers to heavily buy the metal. Spot platinum rose as high as $1,505 an ounce and was quoted at $1,505/1,510 an ounce by 1051 GMT, compared with $1,494/1,498 in New York late on Monday.

Supply disruptions following deadly mining accidents in South Africa, the world's main platinum producer, and growing investor demand for the metal, mainly used in jewellery and to clean car exhaust fumes, have supported prices this year. The market tightness also rose with strong inflows of the metal into exchange-traded funds. Platinum held by London-based ETF Securities has surged to 105,000 ounces from around 35,700 ounces in early November, industry sources said.

(2007-12-19 13:04:26 SGT) [Biz] Permalink

Most popular blog postings on lowem.log :

1. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Honda Civic Hybrid preliminary specifications released
4. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004
5. How to insert currency exchange rates into Google Spreadsheets
6. Singapore : Nuclear power not ruled out
7. Live spot gold price quotes chart on COMEX
8. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option

Featured articles on lowem.log :

1. 2010 Honda Civic Hybrid preliminary specifications released
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
4. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
5. New efficient nanotech materials may boost enhanced geothermal power systems
6. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
7. Singapore property market recovery seen as private home sales surge 52% in Jul 2009
8. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004