2/15, 3:24 PM (Source: TeleTrader)
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Platinum climbs 3% to hit highest level since 2014

The price of platinum rose more than 3% on Monday as demand for the metal across the auto industry rises with more manufacturers turning to electric vehicle production.

Jaguar Land Rover Automotive PLC intends to fully switch to the manufacturing of electric cars, the company's CEO Thierry Bollore unveiled, adding the carmaker "will welcome six pure-electric variants" in the next five years.

Platinum jumped 3.16% to go for $1,293 per ounce at 9:20 am ET, reaching its highest level since September 2014. The price of palladium added 0.20%, trading for $2,395.95 per ounce at 9:21 am ET, silver rose 1.17% to sell for $27.58 per ounce at 9:22 am ET, while gold slid 0.12% a minute later to go for $1,818.54 per ounce.

Breaking the News / GA