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12/3/2020, 1:26 PM (Source: TeleTrader)
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Platinum up 2% as Japan shifts to e-car market

The price of platinum climbed almost 2% on Thursday following the news that Japan is considering to ban sales of new conventional cars by the mid-2030s and completely shift to electric vehicles by 2050.

The precious metal, used in the production of car catalytic converters, yesterday reached its highest level since January boosted by Joe Biden's promises of increased spending in green energy.

Platinum rose 1.92% to sell for $1,032.42 per ounce at 7:24 am ET.

Breaking the News / ND