Platinum Surges to Six-Year High on Industrial Bounceback Bets
- Gold extends gains after U.S. core inflation data miss
- Platinum rallies on tight supplies, investment demand
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Platinum rallied to a six-year high on bets that a recovery in industrial demand and stricter emissions rules will tighten supply of the metal used to curb pollution from cars and trucks.
The commodity has been trading at a big discount to sister-metal palladium, which is also used primarily in catalytic converters. The price disparity between the two, as well as tougher regulations on emissions, has raised expectations that platinum will see greater use.