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(AMM) Platinum, palladium log mixed moves
March 25, 2010 - 20:53 GMT
Location:
NEW YORK
KEYWORDS:
platinum
,
palladium
,
precious metals
,
PGMs
,
Comex
Platinum prices pulled back sharply in Wednesday trade, igniting a flurry of activity Thursday by industrial consumers looking to restock inventories at a discount.
Platinum for April delivery, the most active contract on the Comex division of the New York Mercantile Exchange, rebounded 1.2 percent Thursday to $1,606.40 an ounce after falling 1.3 percent the previous day.
The precious metal's price hike can be attributed to physical consumers looking to lock in lower prices before the next run-up, according to industry sources.
Platinum is used as a catalyst in oil refining, as well...
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Euromoney Institutional Investor PLC.
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