Yesterday, platinum appreciated up to July’s high due to the continued period of protests in South African platinum mines. Marikana is currently working only to 25% of its capacity. Lonmin, the owner of the mine, says it will fire 3000 miners.
Platinum was trading around $1.464,10/oz yesterday.
At the end of yesterday’s trading session, palladium reached $599.25/oz. On Friday, the price managed to reach $602.30/oz.
Silver appreciated a little up to $ 28,11/oz. Gold lost a bit of its value as the price retraced back to $1.614,76/oz. The gold futures for December delivery depreciated by $2.2/oz down to $ 1617,20/oz.
The markets are waiting for Wednesday’s FRS report.
The chart below, courtesy of , reflects the current state of affairs in the market of gold. The current wave pattern structure suggests a possible reversal attended by a decline down to $1584/oz. However, the alternative scenario suggests a rally if the price manages to go consolidate above 1626-1630.
