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Platinum's Moment in the Headlines

Platinum's Moment in the Headlines
Category: Market Reports
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Posted: 09-14-2016 10:13:00 AM

As reported by Mining.com, investors saw a quick jump in prices (+1.6% to $1,058.70/oz) yesterday in the platinum market and it had nothing to do with demand, but rather supply.

We spend a lot of time and energy in the Market Gage blog discussing the economic factors that move the needle in the gold market, but what about our industrial metal cousins, platinum and palladium? We ask because, as it turns out, there is a newsworthy event that has just occurred in the platinum marketplace.

As reported by Mining.com, investors saw a quick jump in prices (+1.6% to $1,058.70/oz) yesterday in the platinum market and it had nothing to do with demand, but rather supply. Specifically, there will be less output of it for a while. It turns out that one of the top platinum producing mines run by Anglo American Platinum (Amplats) is being forced to shut down one of its five operating smelters for furnace maintenance. The stoppage is expected to last at least four months.

Effect on the platinum market was immediate, but that doesn’t mean this industrial metal’s spot prices will be impacted long-term. However, platinum is up 22% on the year with yields expected to meet or exceed 2016 predictions right down the line.

So what’s up with the market this morning? Here’s the look at press time:

  • Gold - Experiencing a bit of a lift, sitting at the mid-$1,320s
  • Silver - Resting nicely above $19 an ounce
  • Platinum - Has settled back a bit after yesterday’s flurry to the upper $1,030s.
  • Palladium - Flat in the mid-$650s.
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About The Author

Walter Pehowich Author Name: Walter Pehowich
This editorial has been prepared by Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing.

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