PLATINA a RÓDIUM na nových maximách

Platinum hit another record high over $1,900/oz on Monday on lingering supply concerns in South Africa, which produces four-fifths of the world's supply of the metal, while gold firmed near an historic high.

Platinum has gained nearly 25 percent so far this year after power shortages disrupted mining in South Africa, triggering worries about a bigger market deficit for 2008. The metal is used in jewellery and auto catalysts to clean exhaust fumes.

"Gold might hit $1,000 and platinum might hit $2,000 by the end of the first quarter," said William Kwan, a dealer at Phillip Futures in Singapore.

"It may be short lived after all the frenzy, and they will retrace back," he added. "We can say the downside is $880 and $890. There seems to be good support at those levels," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.

South Africa has appealed to mining companies for help in cutting power consumption to ease a power crisis caused by the failure of electricity generation to match economic growth.

Analysts say the platinum deficit could widen to more than 400,000 ounces by the end of 2008, compared with about 265,000 ounces in 2007. The market had a surplus of 65,000 ounces in 2006 following seven successive years of deficits.

Zdroj: MineW

12.02.2008

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan