Platinum Group Metals Price Bulletin - 7th November 2011 to 11th November 2011

Johnson Matthey London Base Prices at 0800 hrs, $/oz:

	Pt	Pd	Rh
Monday 7th November	1642	658	1675
Tuesday 8th November	1652	665	1675
Wednesday 9th November	1665	675	1675
Thursday 10th November	1620	645	1675
Friday 11th November	1630	652	1675

Platinum and palladium benefitted from a rising gold price early in the week as the ongoing eurozone crisis prompted safe-haven buying of the yellow metal. Attention shifted to Italy this week, the eurozone’s third largest economy, which saw its borrowing rates surge to 7% amid concerns over high levels of sovereign debt. The European Commission added to the region’s woes by cutting its growth forecast for 2012 to 0.5%, down from 1.8%. This contributed to maintaining the generally negative sentiment towards industrial commodities. Gold fell back mid-week as investors covered losses in equities. Together with a stronger dollar as the euro suffered, platinum and palladium prices were dragged down once again before recovering slightly.

Platinum

News of disappointing export growth in China during October, related to a slowing of US and European demand for Chinese goods, plus news of a slowdown in car sales in India by almost a quarter in October, added to investor nervousness over platinum. The price generally followed gold in upwards and downwards movements.

Palladium

Palladium’s price took support from the rising gold price, but lost its gains for the week in a $30 price fall on the 10^th.

Rhodium

Rhodium gained $25 on the 7th, reaching a new JM Base Price of $1,675.

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