LONDON (Reuters) - Spot platinum jumped nearly five percent to an eight-week high of $1,212 an ounce on Friday, boosted by talk of a launch of a platinum exchange traded fund and a break above key resistance, traders said.
Platinum was quoted at $1,212.50/1,217.50 by 1051 GMT, up from $1,155/1,161 in late New York on Thursday. Platinum has risen by more than 15 percent since the six-month low of $1,050 seen on October 24.
The launch of a ETF would potentially mean the issuer of the security would have to buy large amounts of platinum.