Platinum is taking investors by surprise with its unexpected September rally, rising nearly $100 during the past two weeks.
On Tuesday, platinum surged nearly 3% on the day, with October platinum breaching $980 an ounce. At the time of writing, October futures were trading at $983.80, up 0.16% on the day.
“Platinum and palladium made noticeably more pronounced gains than gold yesterday,” said Commerzbank commodity analyst Carsten Fritsch. “The tighter platinum market situation appears to be leading to higher prices.”
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