(Bloomberg) -- Platinum gained on speculation that
investment funds will add to their holdings because expanding car
production will buoy demand for the precious metal, which is used
in autocatalysts. Palladium also rose.
Demand for platinum for catalytic converters will climb this
year, mostly because of expansions in production of European
diesel cars and growing car output in Asia, London-based
manufacturer Johnson Matthey Plc said last month. Platinum headed
for a quarterly gain of 3.5 percent after a 9.4 percent increase
in the first quarter.
Read more at Bloomberg Commodities News
investment funds will add to their holdings because expanding car
production will buoy demand for the precious metal, which is used
in autocatalysts. Palladium also rose.
Demand for platinum for catalytic converters will climb this
year, mostly because of expansions in production of European
diesel cars and growing car output in Asia, London-based
manufacturer Johnson Matthey Plc said last month. Platinum headed
for a quarterly gain of 3.5 percent after a 9.4 percent increase
in the first quarter.
Read more at Bloomberg Commodities News
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