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Platinum hits 3-month high on supply worry

Platinum hit a three-month high on Tuesday, extending gains into a sixth day as supply concerns stoked expectations of higher prices, and Tokyo's benchmark gold futures contract hit a record high for a second day.

Platinum hit a three-month high on Tuesday, extending gains into a sixth day as supply concerns stoked expectations of higher prices, and Tokyo's benchmark gold futures contract hit a record high for a second straight session.

Spot platinum traded up 0.2 per cent at $US1657.89 an ounce. It was on course for its longest winning streak since early October, encouraged by news that Anglo American Platinum, the world's top producer of the metal, may sell or shut its Union mine.

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Reuters

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    Original URL: https://www.afr.com/companies/mining/platinum-hits-3-month-high-on-supply-worry-20130115-jib1n