Platinum Group Metals Price Bulletin - 1st February 2010 to 5th February 2010

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

	Pt	Pd	Rh
Monday 1st February	1518	419	2450
Tuesday 2nd February	1545	430	2475
Wednesday 3rd February	1592	447	2525
Thursday 4th February	1562	434	2500
Friday 5th February	1490	397	2500

President Obama’s $3.8 trillion budget offering and the European Union’s apparent support of Greece’s fiscal-reform stopped the dollar’s momentum briefly and gold broke through the $1120 level midweek. As mounting European debt concerns triggered a massive global sell-off of equities and commodities, investors flocked to the dollar as a safe haven and gold corrected sharply to the downside, trading at $1,050 at the weeks end.

Platinum

Rebounding from close to $1,500 level on Monday, platinum made impressive gains on the back of gold as well as on concerns about utility costs in South Africa and nationalization rhetoric from the Youth Wing of the ANC. January US auto sales also had the attention of the pgm markets with overall sales up 6%. As the dollar strengthened, however, and with support from Chinese jewellers limited (the Lunar New Year Holiday starts next week), prices plummeted.

Palladium

Making similar gains in the first half of the week, palladium seemed less affected by the second half commodity price plunge but by Friday had succumbed, dropping below $400.

Rhodium

Turning higher, rhodium edged up slightly before losing some of its gains. 

Johnson Matthey,
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