Monday, May 7, 2007

Platinum Rises to Record as South Africa Strike Lingers; Palladium Climbs

(Bloomberg) -- Platinum futures rose to a record in New York as a strike in South Africa entered its second week, threatening to cut supplies. Palladium also gained.

About 5,500 workers went on strike on April 29 at the world's deepest platinum mine, operated by Johannesburg-based Northam Platinum Holdings Ltd. Before today, the metal had gained 16 percent this year amid rising demand from makers of jewelry and pollution-control devices for cars.


Read more at Bloomberg Commodities News

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