Platinum Rises on Speculation Supply May Be Disrupted; Palladium Declines

(Bloomberg) -- Platinum rose to a one-month high in
London on speculation supplies may be disrupted from South
Africa, the biggest producer of the metal. Palladium dropped.

Johannesburg-based Impala Platinum Holdings Ltd.'s pay talks
with a labor union failed after workers refused to accept a two-
year wage pact, Eddie Majadibodu, a negotiator for the National
Union of Mineworkers, said today.


Read more at Bloomberg Commodities News

Platinum Gains as Anglo Platinum Halts Rustenberg Mine; Palladium Advances

(Bloomberg) -- Platinum rose the most in two weeks
after South Africa's Anglo Platinum Ltd., the world's biggest
producer, halted output at its largest mine following the deaths
of five workers in the past two weeks. Palladium also advanced.

The Rustenburg mine will be closed for as long as seven
days, reducing annual production by between 10,000 and 15,000
ounces, Johannesburg-based Anglo Platinum said in a statement
today. Platinum supply fell short of demand in seven of the past
eight years, helping prices to more than triple since 1998.


Read more at Bloomberg Commodities News

Platinum Rises on South African Strike Speculation; Palladium Also Climbs

(Bloomberg) -- Platinum gained in London on
speculation extended wage talks will lead to a strike in South
Africa, supplier of almost 80 percent of the metal used in
jewelry and systems that control car pollution. Palladium rose.

Talks are in their fourth week since Anglo Platinum Ltd.,
the world's largest producer, offered a 5 percent pay raise.
Workers want a 15 percent increase. Global supply beat demand
last year, the first surplus since 1998, London-based metals
trader and manufacturer Johnson Matthey Plc said last month.


Read more at Bloomberg Commodities News

Platinum Rises as South African Miners Plan Strike; Palladium Increases

(Bloomberg) -- Platinum rose in London as miners in
South Africa, the world's biggest supplier of the precious
metal, planned a strike. Palladium also increased.

South Africa's National Union of Mineworkers said yesterday
it was in talks with lawyers to prepare the mandatory seven-day
notice required to legally start a stoppage.


Read more at Bloomberg Commodities News

Platinum Rises in New York on Risk of South Africa Strike; Palladium Falls

(Bloomberg) -- Platinum rose in New York on
speculation that miners may strike in South Africa, the world's
biggest producer of the metal. Palladium fell.

South Africa's National Union of Mineworkers rejected an
initial wage offer from Anglo Platinum Ltd., analyst James Steel
of HSBC Securities (USA) Inc. said in a report dated May 31.
South African companies last month started biennial wage talks
for agreements expiring in June.


Read more at Bloomberg Commodities News

Platinum Futures Jump on Demand for Car Pollution Devices; Palladium Rises

(Bloomberg) -- Platinum jumped in New York and headed
for a weekly gain on expectations demand for the metal used in
auto pollution devices will increase after President George W.
Bush spoke of cutting greenhouse gas emissions. Palladium rose.

Bush proposed yesterday convening talks with the world's
biggest economies to set targets to cut greenhouse-gas emissions.
Before today, platinum has gained 12 percent this year as
industrial and investment demand increased.


Read more at Bloomberg Commodities News

Platinum Falls, Heading for Biggest Weekly Drop in 2007; Platinum Declines

(Bloomberg) -- Platinum fell in New York, heading for
the biggest weekly decline this year, after yesterday's drop in
U.S. stocks. Palladium also declined.

The Dow Jones Industrial Average fell yesterday for a fourth
day, its longest losing streak since Feb. 27. Platinum has
slumped 5.5 percent from a record $1,353.80 an ounce on May 7.


Read more at Bloomberg Commodities News

Platinum, Palladium Futures Drop as Dollar's Gain Damp Investment Demand

(Bloomberg) -- Platinum fell in New York for the
third time in four days as gains by the dollar eroded the
investment appeal of precious metals. Palladium also declined.

The price of platinum has slumped 4.2 percent from a record
$1,353.80 an ounce on May 7. The dollar has climbed 1.6 percent
against the euro this month after falling to a record in late
April. The U.S. currency gained today after a government report
showed purchases of new homes in the U.S. exceeded economists'
forecasts last month.


Read more at Bloomberg Commodities News

Palladium Rises Most This Year on Demand; Platinum Declines on Dollar Gain

(Bloomberg) -- Palladium futures in New York rose
the most this year on forecasts for robust demand for the metal
used in jewelry and emission-control devices. Platinum fell.

Palladium sales will rise 6.5 percent in 2007, spurred by
consumption by automakers, according to consultant CPM Group.
The metal, up 9.5 percent in the past 12 months, may jump
34 percent to $500 an ounce by yearend, said Gerry Schubert, a
director of metals in London at Fortis, Belgium's biggest bank.


Read more at Bloomberg Commodities News

Return of investors triggers gold price advance

Gold rose to its highest in more than a week on Monday, driven by speculative buying and a return of investor confidence after the recent sell-off.

Silver and platinum hit two-week peaks, while palladium prices climbed to their highest since March 9.

Spot gold rose as high as $656.25 an ounce and was quoted at $654.70/655.45 by 1506 GMT, against $651.90/652.90 in New York late on Friday.

Read more at Reuters South Africa

Gold, palladium soars

Gold has rallied to a 5½-month high of $651.80/oz as investors saw potential for it to scale new peaks on expectations of a weakening of the US dollar.

Silver jumped to a one-month high, while palladium prices rose as high as $349 an ounce, the highest level in more than four-and-a-half months.

After several recent attempts, gold breached the $650-an-ounce mark and analysts said a weaker dollar and firmer oil prices should help it to scale new highs going forward.

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Gold near 7-week high

Gold paused for breath on Wednesday after rising 2%in New York, but dealers said the next resistance of $650 may be tough to crack without further weakness in the dollar or more gains in oil.
Silver rose to its highest level in more than a month, while platinum and palladium jumped as a weak dollar encouraged buying by speculators.

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