9/16, 4:14 PM (Source: TeleTrader)
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Platinum drops over 2%

On Monday, platinum fell over 2% despite a report from the World Platinum Investment Council (WPIC) in which the organization revised its 2019 forecast for surplus metal, stating total demand was forecast to rise 9% compared to 2018. The rise in demand will be driven mainly by chemical and petroleum demand reflecting economic growth, the WPIC said.

The price of platinum per ounce fell 1.86% to $930.89 at 10:08 am ET. Palladium was down 1.01% to change hands for $1,594.78 a minute later. Meanwhile, the gold was up 0.59%, selling for $1,496.81 at the same time, while the price of silver rose 1.9% to $17.77.

Breaking the News / MD