Platinum bullish near record as gold around $900

Free Coin Guide

By Chikafumi Hodo

Platinum held near a record high on Thursday as concerns over supply problems in South Africa attracted strong demand from investors, with the strength in Tokyo platinum futures providing additional support.
Cash precious metals have been confined to trading in tight ranges, with gold around $900 an ounce, as many Asian market participants were away for the Lunar New Year holiday.
By 10:48 p.m. ET, cash platinum was trading at $1,811/1,821 an ounce, little changed from Wednesday's level of $1,810/1,815 and not far from a record $1,819 reached the previous day.
"Platinum is bullish as all focus is on supply worries in South Africa with power cuts and floods and so on," said Shuji Sugata at Mitsubishi Corp Futures and Securities in Tokyo.
"Concerns over supplies have been keeping lease rates at high levels and providing overall support."
The white precious metal has been drawing huge funds inflows since the start of the year, sending it up by nearly 20 percent.
South Africa's government appealed to mining companies for help in cutting power consumption on Tuesday to ease a power crisis caused by the failure of electricity generation to match economic growth.
Japanese investors have been flocking into the market, although they were careful about building up new buy positions.


Best Coin Deals
Buy It Now Coins
Buffalo Nickels
Civil War Memorabilia
Coin Articles
Coin Auctions
Coin Mobi
Coin Search
Coin Supplies
Coin Videos
Commemoratives
e-Coins.TV
e-Coin.US
e-Coin.WebSite
Error Coins
Fantasy Coins
First Spouse Coins
Foreign Coins
Free Coins
Free Dollars
FREE GOLD
Free Money
Gold Buffalo Coins
Gold Coins
Gold Eagles
Indian Cents
Key Coins
Kennedy Halves
Lincoln Cents
Mercury Dimes
Morgan Dollars
Presidential Dollar Coins
Purchase Coins
SavOnCoin
Silver Dollar Coins
Silver Eagles
State Quarters
Top Coin Sites
VAM Dollars