From Investment Postcards from Cape Town:
The platinum price took a heavy beating when the Great Tohoku Earthquake struck Japan on March 11 and seemed to recover afterwards before retreating recently.
The recovery and subsequent decline was more a reflection of cross-rate movements of the U.S. dollar than anything else, as the platinum price in terms of the euro has remained in a narrow range since the end of March.
The weakness of the platinum price is more apparent if it is compared to gold. Since Japan's twin disasters, platinum's premium to gold has been in a downtrend, falling from $366 to $270... or by 26.2% at Friday's close.
... But why the massive hit on platinum?
The platinum price took a heavy beating when the Great Tohoku Earthquake struck Japan on March 11 and seemed to recover afterwards before retreating recently.
The recovery and subsequent decline was more a reflection of cross-rate movements of the U.S. dollar than anything else, as the platinum price in terms of the euro has remained in a narrow range since the end of March.
The weakness of the platinum price is more apparent if it is compared to gold. Since Japan's twin disasters, platinum's premium to gold has been in a downtrend, falling from $366 to $270... or by 26.2% at Friday's close.
... But why the massive hit on platinum?
No comments:
Post a Comment