Platinum costs less
-- Purchasing, 5/8/2008
Platinum future prices for July delivery have slipped to $2,000/oz on the New York Mercantile Exchange from $2,100-plus in the March spot market, and could slip more. Analysts say a 66% price gain from last August will cause makers of jewelry and car pollution-control components to replace platinum with cheaper metals, such as palladium, which costs about one-quarter as much.
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