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Gold/Mining/Energy : Platinum PRICE monitor--genesis Nov 2002
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From: IngotWeTrust1/15/2013 10:57:48 PM
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Unwinding of long gold, short platinum has now officially been unwound it would appear, based upon discount of later to former having disappeared totally based upon Tuesday 1.15.2013 price action in the paper platinum market.

It didn't take long to find this piece of fundamental news supporting this particular reversal particularly but infrequently tracked on this thread for some time now.

This courtesy of AMPLATS:


Platinum hits 3-mth high on Amplats; regains premium over gold
Posted on January 15, 2013 by News 15
(Reuters) – Platinum hit a three-month high on Tuesday, regaining its premium over gold for the first time since last March as supply concerns lifted prices, while gold struggled to break through a recent price range on the lack of a fresh catalyst.

News that Anglo American Platinum, the world’s top platinum producer, would indefinitely close four of its shafts in South Africa’s platinum belt and sell its Union mine sent platinum up 2.1 percent to a three-month high of 1,691 an ounce.

Platinum consequently regained its premium over gold, having gained favour with investors expecting higher prices for the metal, which is used mainly to produce jewellery and autocatalysts, against the backdrop of an improving global economy.
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It is not unreasonable to wrily note the following historical behavior of the Japanese consumer appetite for things PGM. With inflation instead of deflation now being the cause célèbre feted in this dying nation, the timing of the disappearance of said gold premium in this recent long term spread action now combines with this AMPLATS fundamental "supply" story.

Pays yer money and makes yer choices, yes?
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