1
July
Platinum Heads for Second Quarterly Gain on Dollar Weakness
1 July 2009 Bloomberg.com
Platinum gained in Asia, heading for a second quarterly increase, as investment demand boosted by dollar weakness offset a slump in consumption by the auto industry.
The metal, used mainly in catalytic converters, is up 5.8 percent this quarter as the Dollar Index, which measures the greenback’s value against six major trading partners, slid 6.8 percent. Some investors buy precious metals as an alternative investment to a declining U.S. currency.
http://www.bloomberg.com/apps/news?pid=20601012&sid=a43J6Bts8o3U
