Platinum Posts Longest Rally Since June Amid Supply Concerns
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Platinum futures capped the longest rally in almost a year on signs that declining stockpiles will exacerbate a tightening supply outlook. Gold climbed to a three-month high.
The World Platinum Investment Council forecasts that a measure of inventories will drop to the lowest in at least 10 years, a report on Monday showed. Global production will trail use this year as demand climbs from the auto industry and jewelry makers, the group said. The metal goes into pollution-control devices for cars.