Platinum Falls Most in More Than 6 Years - 白金价狂瀉

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Platinum slumped the most in more than six years in London, declining from a record, as some investors doubted the prospect of an exchange-traded fund (ETF) being introduced for the precious metal.

Platinum, used in jewelry and car-exhaust systems, dropped when the talk of an ETF attracted skepticism that supply may not be enough to support a fund similar to those already available for gold and silver. So-called ETFs purchase and store metal, allowing investors to trade assets without owning them.

An ETF would be ``disruptive'' because the platinum market is ``very narrow,'' John Sheldrick, finance director of Johnson Matthey Plc, the world's biggest distributor of platinum-group metals, said in an interview today. ``It would lead to more volatility.''

The platinum market is moving closer to a match between supply and demand after eight years of deficit. The shortfall this year will be 20,000 ounces, compared with 70,000 ounces in 2005, Johnson Matthey said in its Nov. 14 market review.

``I am a firm believer in ETFs, but profitability for an ETF for platinum would swing enormously in a small and illiquid market,'' Jonathan Barratt, managing director at Commodity Broking Services, said by te lephone from Sydney today. ``It's dangerous to trade platinum at the moment as the volatility is unbelievable.''

Platinum for immediate delivery fell $81.50, or 6.5 percent, to $1,170 an ounce in London at 11:30 a.m. A close at that level would make it the biggest one-day drop since August 2000. The metal jumped as much as 11.9 percent to record high of $1,402.50 yesterday.

On the Comex division of the New York Mercantile Exchange, platinum futures for January delivery fell $49.10, or 4 percent, to $1,170 an ounce. Prices are up 21 percent this year.

richardchen

Thanks!

魯賓

創新高難途一瀉

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When Barclays Bank Plc began offering a silver-backed ETF on April 28, silver had its biggest gain in 11 years. Barclays has not filed any regulatory documents relating to a publicly traded platinum trust and has no immediate plans to do so, Christine Hudacko, spokeswoman at Barclays in San Francisco, said in an e- mail to Bloomberg.

Usually an issuing firm of an ETF would file an initial prospectus with the U.S. Securities and Exchange Commission and the SEC would then review it by evaluating the costs and benefits of such an instrument, Tom Pawlicki, analyst at Man Financial Inc., said in a report today.

``The platinum market has been in supply deficit for the past 8 years,'' Pawlicki said. ``An ETF offering would certainly crimp tight supplies and upset the market's rationing function.''

Platinum trades roughly 3 percent as much as gold on the U.S. exchanges. Total supply of gold in 2005 was 128 million ounces while platinum supply in 2006 is expected to be 7 million ounces, Pawlicki said.

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魯賓  在 2006-11-23 01:28 發表:

創新高難途一瀉

白金因謠言而創新高，怎会不瀉。日本仔受害最大。活該。

魯賓

BY  在 2006-11-23 01:35 AM 發表:

白金因謠言而創新高，怎会不瀉。日本仔受害最大。活該。

日本仔仲會有排衰  PS3分分鐘滑鉄爐

BY

BY  在 2006-11-23 01:35 發表:

白金因謠言而創新高，怎会不瀉。日本仔受害最大。活該。

Platinum for immediate delivery fell $81.50, or 6.5 percent, to $1,170 an ounce in London at 11:30 a.m. A close at that level would make it the biggest one-day drop since August 2000.

The metal jumped as much as 11.9 percent to record high of $1,402.50 yesterday.

Speculative buying over the launch of an ETF prompted some Japan investors to buy the precious metal at above $1,300 an ounce level yesterday. These investors are now selling platinum as prices decline.

CBA

会影响今天贵金属的走势吗？

ljj078

孤身走我路，你写什么东东？。。。。。。。。。。。。。。。。。。。。。

金城市

谢帖!!!!