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

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

 PtPdRh
Monday 15th March   1610   464   2550
Tuesday 16th March   1626   465   2535
Wednesday 17th March   1639   475   2535
Thursday 18th March   1632   478   2535
Friday 19th March   1628   479   2520


Despite doubts about their appetite for the task, European finance ministers appeared to have worked out a plan to rescue Greece (should it need rescuing) and the positive movement for the dollar seen early in the week quickly curtailed. Metals benefited, gold pushing to $1,128, but later came under pressure as renewed concerns over the Greek situation had the dollar up against European currencies.


Platinum

Flat trading saw platinum initially down on last weeks close before bouncing higher. Its ratio to gold reached the highest level for 18 months. an ounce of platinum now being worth around the same as 1.46 oz of gold compared to an average of 1.24 oz in 2009. Renewed concerns about South Africa’s power supply is reported to be driving investor activity but, if so, its not the ETF community. They appear to be taking a breather, the latest positions being relatively unchanged with platinum at 932,000 oz.


Palladium

ETF positions for palladium are also becalmed with 1.66 million oz the latest reported total. Nevertheless prices solidified steadily throughout the week, the metal seemingly oblivious of the flux of other precious metals.


Rhodium

After taking an initial step back, rhodium held steady till Friday when its position again softened.



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