Platinum prices continue to underperform rising only briefly above $960 an ounce directly following the release of the Fed’s decision to raise rates before slipping lower to below $950 once again; the discount to gold has widened to near $400 an ounce and remains at $30 an ounce to palladium.
The back story: The metal showed a modest positive reaction late in the week to a 3%-plus gain in the gold price but was unable to mount any follow-through price increase and instead remained in its recent $940-$960 range. A rise in US interest rates should be perceived as a sign of a growing economy and positive for platinum and other industrial metals but the price continues to struggle nonetheless.“Reading 1 minute
Also in this week’s Platinum Market Review:
-The Federal Reserve raised the Fed Funds rate a ¼-point -Palladium prices also displayed a brief positive reaction to the Fed increase -Rhodium prices continue to appreciate settling at just over $2,000 an ounce on the Comdaq fixing for the first time since July 2011 Click HERE to read the March 26, 2018 Platinum Market Review
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