Morning Platinum Market Report

By | Subscribe to IBTimes's | August 8, 2012 6:44 PM IST

The platinum market has started out with moderate losses today, reflecting early weakness throughout the metals markets. With a $41 per ounce rally last week and economic sentiment deteriorating slightly, some traders may be encouraged to bank profits and fresh buyers might be discouraged to initiating positions. News of disappointing earnings and lower platinum production at a major global platinum miner overnight may have provided a small measure of support for platinum prices but many traders feel that the focus of the platinum market recently has been locked onto the ebb and flow of demand and not on minor changes in supply.

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