(Bloomberg) -- Platinum was little changed in Asia and may gain as traders said the drop to a two-week low yesterday in New York on a strengthening dollar went too far, given investor and industrial demand for the metal. Palladium gained.
Prices for platinum for delivery in April 2008 jumped to a record high earlier this week in Tokyo amid speculation supply increases may fail to keep pace with rising demand for its use in vehicle emission-control systems. A rally in the dollar to a two- month high against the yen helped push the metal down in New York yesterday, creating a buying opportunity, said Kazuhiko Saito, a trader at Interes Capital Management in Tokyo.
Read more at Bloomberg Commodities News
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