NEW YORK— Gold and silver prices rose Thursday as the stock market went into retreat. Platinum for July delivery rose $21.20, or 1.5 percent, to $1,460.10 an ounce. Palladium for June delivery rose $9.75, or 1.2 percent, to $792.30 an ounce.» Read More
Ric Spooner, Chief Market Analyst, CMC Markets expects a price pullback in precious metals like platinum & gold. He explains why it's appropriate to aggressively short gold now & only buy in at 1625/1675 levels.
CNBC's Kate Kelly reports platinum is in high demand among hedge funds.
London-based company Lonmin, the platinum mining firm affected by strikes at their Marikana facility in South Africa, is a definite opportunity for investors looking to enter the sector according to Alison Turner, mining analyst at Panmure Gordon.
Alison Turner, mining analyst at Panmure Gordon & Co, told CNBC, Lonmin provides an excellent opportunity for long-term investors to get in at the current price.
Robert Besseling, senior Africa forecaster at Exclusive Analysis, told CNBC, unions have completely lost control of the situation at the Lonmin mine which could lead to an extended period of industrial action and violence.
Platinum continues to escalate on South African unrest, and stimulus hopes in the U.S. are driving gold prices higher, reports CNBC's Sharon Epperson.
One of the world’s largest mining groups, Anglo American, could see its platinum production also affected by striking workers, according to trading company Vincom Commodities.
Anil Kumar, group president at Vincom Commodities, told CNBC, if Anglo American gets sucked up into this problem and 40 percent of the world's production suddenly can't deliver, then the price of platinum could shoot up.
Gold closes above $1,640 per ounce, and platinum hit its highest level since early May, mostly due to unrest in Africa, reports CNBC's Jackie DeAngelis.
Robert Bessling, senior Africa forecaster at Exclusive Analysis, told CNBC, we have warned our clients of contagion risks to other platinum mines, the radical AMCU union has already recruited at these mines and there is a rising probability of violence erupting there too.
More than thirty people have been shot and killed after South African police opened fire on a crowd of striking workers at Lonmin Platinum mine. Catherine Boyle has more.
Gold traders seem to be a bit cautious as they look ahead to the Greek elections and the FOMC meeting next week, reports CNBC's Sharon Epperson.
Gold hovers under $1,600 at the close, with CNBC's Sharon Epperson.
Schlomo Tidhar, CEO, Singapore Diamond Exchange says investments in diamonds are less volatile than equities or precious metals like gold and platinum.
Suki Cooper, commodities analyst at Barclays Capital, discusses the direction of gold prices on the back of European contagion fears.
Palladium raced ahead of all other metals in April. After climbing double digits in the first quarter, platinum and silver futures were down 4 and 5 percent, respectively. Both metals lost ground for the second consecutive month. Copper prices were flat, and gold seems to have lost its luster, posting its third straight monthly decline.
Nick Trevethan, Senior Commodities Strategist, ANZ Research says gold prices have proven to be remarkably resilient, holding around $1,630.
Dominic Schnider, Head Commodity Research, UBS Wealth Management sees risks for base metals to weaken in the short run due to less imports from China.
Gold gets all the headlines, but platinum is a better bet to put precious metals in your portfolio, Patrick Armstrong of Armstrong Investment Managers told CNBC.
There may be no better way to appreciate the diversity of exchange traded funds than by looking at the commodities sector of the asset class.