Platinum Group Metals Price Bulletin - 26th July 2010 to 30th July 2010

Johnson Matthey London Base Prices at 0800 hrs, $/oz:

	Pt	Pd	Rh
Monday 26th July	1555	476	2300
Tuesday 27th July	1562	478	2300
Wednesday 28th July	1546	474	2250
Thursday 29th July	1552	477	2225
Friday 30th July	1560	491	2225

As the dollar slipped back there was some renewed buying interest in commodities as investors looked for better returns. The base metals complex was well supported in a further sign of the strength in "industrial" metals. Gold initially reacted in line with other commodities but struggled to move back to the key level of $1,200 and floundered to a 3 month low of $1,161 as oil dropped on an unexpected rise in crude inventories.

Platinum

Pulled from two directions, industrial metals on the one hand and gold on the other, platinum opened significantly higher at the start of the week in line with other commodities. It strengthened on news of a potential strike at Impala Platinum and a tempered output plan from Anglo Platinum for the full-year but, as gold and oil slipped midweek so did platinum. The dip was brief, however, as favourable fundamentals for the metal came into play - positive numbers from a number of car companies and a number of production and labour issues in South Africa.

Palladium

Outperforming the other pgm, palladium seems to have won the affections of investors again, perhaps on news of auto industry growth, which mostly centres on China - a gasoline market that favours the metal in catalyst systems.

Rhodium

The recent, significant fall in the rhodium market finally appeared to prise out some physical demand. Prices moved upwards but the higher level proved to be slippery ground and they reversed as buying interest slowed.

Johnson Matthey,
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Royston,
Hertfordshire SG8 5HE,
United Kingdom