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On-going labour disruption at South African mines and an expected surge in demand as a result of a recovering European economy are likely to bring about a fall in the significant global stocks of platinum as well as a boost in prices, the Financial Times has reported. 'We are now getting near the stage where production losses from the strikes could start lifting the price,' analysts at Barclays have stated.
At the start of the year, the platinum price climbed some 5% to average US$ 1423 an ounce owing to a weaker US dollar and improved sentiment surrounding precious metals in general, Barclays argues. Should the strikes in South Africa not end soon, it contends, further increases will follow.
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