Platinum Prices Continue To Underperform

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.

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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

Disclaimer: 

Material contained in this report is based upon publicly available market data believed to be accurate and reliable and is presented for informational purposes only. KMR assumes no warranty or liability for its completeness, nor guarantees future market performance. Further, KMR assumes no liability for direct or indirect loss or damage from the use of information contained in this report, or from any unforeseen errors or omissions.

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Key Metal Refining

About Key Metal Refining LLC Key Metal Refining (KMR) buys scrap catalytic converters as the raw material source for its platinum group metal sales generated through its recovery and refining process. KMR’s controlling partner is DOWA Metals and Mining Co. America, a wholly owned subsidiary of DOWA Holdings Co, Ltd. KMR de-cans catalytic converters at its plant in Hainesport New Jersey. The material is further refined and smelted by DOWA in Japan.