Platinum Rises to 17-Week High; Palladium, Gold Advances
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Platinum futures rose to the highest in almost 17 weeks as output declined at Anglo American Platinum Ltd., the world’s biggest producer. Palladium extended a rally to the highest since September 2011, and gold gained.
Anglo American, based in Johannesburg, reported a loss for 2012 as production of the refined metal dropped 8.8 percent while costs surged. “Supply challenges” will continue this year, the company said. Global output slumped 10 percent in 2012, Johnson Matthey Plc has estimated.