Platinum Group Metals Price Bulletin - 15th February 2010 to 19th February 2010

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

	Pt	Pd	Rh
Monday 15th February	1514	419	2500
Tuesday 16th February	1536	430	2500
Wednesday 17th February	1550	437	2500
Thursday 18th February	1512	430	2500
Friday 19th February	1510	430	2500

Platinum

China was closed for its New Year holiday this week, yet the resulting absence of buying from the SGE had little effect on price moves. The focus was on currencies as the dollar’s recent appreciation against the Euro was briefly arrested by the EU delaying any decision about a plan to help Greece reduce its debt. A rally in platinum was sharply deflated when the US Dollar Index reached a new eight-month peak. Helping to boost the greenback were some generally supportive US economic reports and the Federal Reserve raising its interest rate by 25 basis points. News that the IMF would be a seller of 191.3 tonnes of gold on the open market further weakened the precious metals complex, the platinum price ending the week more or less where it started.
 

Palladium

In contrast to platinum, palladium held on to most of its gains, perhaps boosted by another increase in ETF positions which rose by 82,000 ounces on Wednesday.
 

Rhodium

The rhodium market has temporarily stabilised and the price was steady at $2,500 throughout the week.
 

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