Monday, 18th February 2008 at 7:40 pm
Platinum sours to $2100

The psychological mark of US$2 000 an ounce was reached last week in the price of platinum. Today (18 February) the price reached $2 119 an ounce. The main reason for the souring price of platinum is largely due to the current electricity problems in South Africa which is the largest producer of platinum in the world.

The price of platinum has already gone up by 30% this year and it does not look like the price will go down anytime soon as South Africa continue to battle against the supply of electricity to the country.

Last week the price of platinum reached an all time high at $1 915 an ounce but it was clear then that, that price would be short lived and we have not been proven wrong now that the price is hovering around $2 100. For those who had somehow foreseen this price increase a while ago or had taken a ‘gamble’ and decided to position their investments according to the price of platinum, they could now be reaping the rewards!

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Comments

Poor Credit News » Blog Archive » Platinum sours to $2100 on 18 February, 2008 at 8:05 pm #

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Credit Cards on The Finance World For News and Information Around The World On Finance » Platinum sours to $2100 on 14 March, 2008 at 5:05 pm #

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