Platinum Group Metals Price Bulletin - 10th March 2008 to 14th March 2008

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

 PtPdRh
Monday 10th March   2075   500   9425
Tuesday 11th March   2002   473   9425
Wednesday 12th March   2020   486   9400
Thursday 13th March   2080   511   9325
Friday 14th March   2095   507   9300



Platinum

Another extremely volatile week as last Friday’s freefall continued when the European and American markets opened. Earlier on the Monday, however, the Asian markets had seen the low price as a buying opportunity and platinum enjoyed a foray north before being forced back. A similar pattern followed on Tuesday with both the investment and industrial communities alike buying into the dip. Although the Federal Reserves $200 billion injection resulted in a huge rally in equities, platinum and other metals seemed little affected. The market appeared less than convinced of the effectiveness of the measure, however, and the brake it applied to the plummeting dollar was only temporary. As it fell to its lowest ever against the Euro, and a 12 year low against the Yen, commodity prices surged, JM’s base price for platinum having to be adjusted more frequently than usual. It was changed to $2,112 at 11.00 London time on Friday.


Palladium

Also retracing its steps, palladium dropped below the $500 mark before trekking higher with gold and platinum, albeit with a smaller gait. Like platinum the JM base price was adjusted upwards to $512 on Friday at 11.00 London time.


Rhodium

Activity in the rhodium market was thin and as offers began to surface mid week the price gradually edged downwards.



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