Platinum Group Metals Price Bulletin - 16th August 2010 to 20th August 2010

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

	Pt	Pd	Rh
Monday 16th August	1535	482	2125
Tuesday 17th August	1544	488	2125
Wednesday 18th August	1544	499	2125
Thursday 19th August	1540	492	2125
Friday 20th August	1520	485	2125

Positive market sentiment prevailed in the early part of the week as increased US manufacturing output in July and strong company earnings results were reported. However, this renewed confidence appeared to be fleeting as poor US employment data stoked fears about the sustainability of the global recovery. Equities in Europe slid lower as risk aversion once again hit global markets. Platinum and palladium also slid towards the end of the week after a strong start, as news of weaker than expected new car sales came from the UK. In thin August trading, swings in investor confidence were more marked, with platinum and palladium reversing the gains seen earlier in the week.

Platinum

The platinum price continued to recover in the early part of this week before sliding again as fresh concerns about economic conditions returned. Platinum gained as uncertainty continued over South African supplies, particularly in the light of the recent controversy over mining rights. Platinum edged higher as physical buying in Asia continued, reaching $1544 on the 17th and 18th. From mid-week onwards, platinum fell as confidence declined.

Palladium

Palladium was on an upward trend for most of the week, looking like breaking the $500 barrier once again mid-week. However, palladium fell on the 19th and 20th as the UK motor industry reported a fall in new car production in line with the ending of many European incentive schemes, and Chinese automakers looked like downgrading their sales targets.

Rhodium

Despite significant buying interest in rhodium, the price held at $2125.

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