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Minor strife......

JulioJulio Posts: 2,501 ✭
in Precious Metals



By Claudia Assis, MarkeWatch

Reuters
Mineworkers take part in a march outside the Anglo American mine in South Africa's North West Province, September 12, 2012.

SAN FRANCISCO (MarkeWatch) — Labor strife in South Africa is set to boost platinum prices for months to come, with a once oversupplied market likely becoming tighter by year end.

Industrial demand for platinum is still seen as weak, and investors seem ready to make up for that lack of appetite. Platinum is a cheaper alternative to gold, and the concerns about South Africa, which mines 80% of the metal, are unlikely to abate. That outlook has enticed financial buyers.

Take care. jws
Had to take a T out to get by the censors.
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Comments

  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    look for the South African mining labor issue to worsen

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    Are the gold mines over there also being affected from strikes?

    HH
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
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  • JulioJulio Posts: 2,501 ✭
    4 days ago ... Julius Malema calls for full South Africa mining strike ... Strikes have already halted production at several gold and platinum mines in the ...

    www.bbc.co.uk/news/world-africa-1…

    Take care. jws
    image
  • johnny9434johnny9434 Posts: 28,303 ✭✭✭✭✭
    oil will be up there with it as well.
  • JulioJulio Posts: 2,501 ✭
    johnny9434; yep. Take care. jws
    image
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Mine labor problems, combined with QE3, will likely push gold higher over the next month or so....Cheers, RickO
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