Platinum Group Metals Stocks

PGM News

Platinum
Platinum recovered from a bad afternoon in New York on Monday to tick steadily higher and on Wednesday market bids in Asia appeared to be providing momentum for a strong rally. Profit taking in London capped this, but only briefly. Comments on demand prospects over the next few years by several of the South African producers provided a positive sentiment and as silver charged through the ten dollar level on Thursday platinum continued to progress.

Palladium
At the beginning of the week the market appeared to be still fixated on the 50 tons of palladium imported into the U.S.A and Zurich during December and January. Good bidding emerged on Wednesday, however, and as prices began to firm heavier volumes moved the price past the $300 psychological barrier.

Rhodium
With industrial consumption remaining solid, rhodium firmed on the back of dealer bidding, market offers seeming to have evaporated.

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