(Bloomberg) -- Platinum rose in London, snapping its worst losing streak in more than seven weeks on speculation that a new platinum-based investment product will buoy demand for the metal used in jewelry and cars. Palladium declined.
Platinum fell for three consecutive trading sessions after closing at a record April 20. Carmakers are using more platinum to reduce emissions from vehicles as governments tighten environmental controls. Demand may be further bolstered by investors buying a new exchange-traded fund backed by platinum, London-based researcher GFMS Ltd. said yesterday.
Read more at Bloomberg Commodities News
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