Investors are shrugging off concerns that Volkswagen AG’s emissions-test scandal would pinch demand for platinum, the metal used in pollution-control devices for diesel vehicles. Money managers have raised their net-long positions on the commodity to the highest since 2014, according to U.S. government data. A report Friday showed car sales in Europe rose 7.2 percent in June from a year earlier, a signal that the diesel-emissions flap “is still having virtually no impact on new car registrations,” Commerzbank AG said.

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