The platinum price dropped as low as $1,410 per troy ounce yesterday morning, but has recovered slightly since. Worries about the euro's survival are currently weighing on precious metals, with growing rumours about a Greek exit from the euro – which some predict could happen after elections in June. These fears continue to benefit the US dollar, which in recent weeks has been climbing to new highs. But this appreciation in the greenback has been weighing on precious metals prices.
Swiss platinum imports stood at just 949 kg in April – a four-year low, and considerably below the country’s March platinum imports, which amounted to 3,411 kg. Chinese platinum imports also dropped by 199 kg from March to April (totalling 903kg for April). China is one of the world’s largest markets for platinum jewellery.
However, Swiss palladium imports reached a three-month high in April 3,197 kg – up from March’s total of 616kg. There were no Chinese palladium imports in April however (down from 99kg in March) a testament to the economic slowdown there.
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China Slowdown Shown By Falling Metal Demand
Published 05/26/2012, 08:42 AM
Updated 05/14/2017, 06:45 AM
China Slowdown Shown By Falling Metal Demand
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