Platinum rises to highest level in 3 months

Platinum rises to highest level in 3 months

Platinum prices rose to the highest level in three months yesterday after announcing Anglo American Platinum’s largest platinum producer in the world that it would close two mines in South Africa and will sell another mine which would reduce production by 400 thousand ounces. This prompted the platinum price rise of more than gold for the first time since March after he was traded at a discount unusual historically for gold in most periods last year.

And increased platinum in the spot market 2.1% to 1690 dollars an ounce after touching $ 1699.50 earlier, its highest level since the ninth of October. And platinum rose nearly ten percent since the beginning of the year. The exposed platinum production companies under intense pressure after it had been damaged by a wave of strikes in the past year with higher operating expenses and lower platinum prices.