18
June
Platinum Futures Fall as U.S. Inflation Eases; Palladium Rises
18 June 2009 Bloomberg.com
Platinum fell to the lowest price in more than two weeks as the threat of inflation eased and the outlook for a rebound in industrial output dimmed. Palladium rose, erasing earlier losses.
Consumer prices in the U.S. rose less than forecast in May, culminating in the biggest 12-month drop in prices in almost 60 years, the government said today. Accelerating inflation tends to boost demand for precious metals as a hedge. Robert Bosch GmbH, the world’s largest automotive supplier, expects global vehicle output to drop as much as 20 percent this year. Platinum and palladium are mostly used for emission-control systems.
http://www.bloomberg.com/apps/news?pid=20601012&sid=a8_TgF9n76.c
