Platinum rallied to a four-month high, trading at the biggest premium to gold since 2011, as investor holdings rose to a record on concern that global supply is declining while demand expands. Palladium climbed to the highest level since September 2011 and gold was little changed. Platinum for immediate delivery climbed as much as 0.2 percent to $1,714.25 an ounce, the highest price since Oct. 5, and was at $1,713.75 at 9:52 a.m. in Singapore. The price is poised to advance for a fourth day, the best streak since Jan. 17. Spot gold was at $1,672.20 an ounce from $1,672.95 yesterday. Holdings in exchange traded-products backed by platinum expanded 1 percent to a record 51.46 metric tons yesterday, according to data tracked by Bloomberg. The platinum industry is in crisis, Anglo American Plc Chief Executive Officer Cynthia Carroll said yesterday. The company’s platinum unit, the world’s largest producer, last month proposed the halt of four mine shafts that would cut 400,000 ounces of annual output, or 7 percent of global production. “That’s going to put some pressure on above-ground stocks and scrap supply and it’s going to add to the mine-supply deficit,� Nick Trevethan, an analyst at Australia & New Zealand Banking Group Ltd., said by phone from Singapore. Platinum production will drop 2.7 percent to 5.68 million ounces this year, the least since 2000, according to Barclays Plc. One ounce of platinum bought as much as 1.0267 ounces of gold today, the most since Aug. 29, 2011, according to data tracked by Bloomberg. Platinum has risen 11 percent this year as economic data from the U.S. to China and Europe showed recoveries gaining traction. Gold has fallen 0.2 percent. China Imports Gold for April delivery was little changed at $1,672.60 an ounce on the Comex in New York. Cash bullion of 99.99 percent purity was little changed at 336.80 yuan a gram ($1,680.68 an ounce) on the Shanghai Gold Exchange. Imports of gold into mainland China from Hong Kong almost doubled to an all-time high last year. Mainland China imported 834,502 kilograms (834.5 metric tons), including scrap and coins, compared with about 431,215 kilograms in 2011, according to Bloomberg calculations based on data yesterday from the Census and Statistics Department of the Hong Kong government. Palladium gained 0.2 percent to $767.75 an ounce, the highest price since September 2011. Silver for immediate delivery dropped 0.2 percent to $31.765 an ounce. To contact the reporter for this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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