Platinum prices fell more than 5% on Friday to
$1255,50 an ounce as worries over demand weighed on investor sentiment. Eugen Weinberg, commodities analyst at Commerzbank, said that commodity price rises had become overheated this month, given weak fundamentals.
“Should the situation become worse than expected, prices are very vulnerable for another correction,” he said.
* Spot gold was at $953,6 an oz at 0700 GMT compared with $954,00 late in New York on Thursday.
* Silver was at $15,32 from $15,37.
* Platinum at $1260,50 from $1261,00.
* Palladium at $254,50 from $254,00.
|
