Mineweb, in its September 7, 2012 article, reports that Platinum buying rises as strike disruptions escalate.
Extract :
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Investors are buying
platinum at the fastest pace since 2010 after disruptions at South African mines caused the biggest loss of supply in at least seven years.
Strikes and pit closures meant mining companies extracted 380,000 ounces less than they
could have this year, equal to about 6 percent
of global output, Deutsche Bank AG estimates. Metal purchases through exchange-traded products were the most in 20 months
in August, data compiled by Bloomberg show. Prices will average
$1,625 an ounce in the fourth
quarter, the highest in more than
a year, according to the median of 12 analyst estimates compiled by
Bloomberg.
Platinum is now 13 percent higher this year at
$1,581.40, having dropped
to an almost seven-month low of $1,379.25 on July 24. Photographer:
Tomohiro Ohsumi/Bloomberg
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Read the rest of the article at
Mineweb
