Platinum



Platinum to Reach $2,000 in 2010?In early May, precious metal forecasters announced that platinum prices for the second half of 2010 will continue to edge upward, perhaps as high as $2,000 per ounce (at press time the spot price for platinum was $1,737 per ounce).  According to Johnson Matthey’s Platinum 2010 publication released on May 17, three factors are influencing these rising numbers: continued recovery in the auto market, speculative investment interest in platinum in the form of exchange traded funds or ETF investment, and China’s platinum jewelry consumption.  Right now, speculative investment is a major factor in pushing up the price. “The sentiment on platinum is fairly bullish,” explains Tim Murray, general manager of precious metals marketing for Johnson Matthey. “Speculative interest in platinum can lead to volatility in prices, and it often hinges on t
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