Has gold had its Run !!
13-Mar-2012 12:28
LONDON, March 13 (Reuters) - The spot platinum price briefly traded above that of gold for the first time since early September on Tuesday, bringing an end to six consecutive months of outperformance by the bullion price.
Spot platinum XPT=, which touched a session high of $1,698.50 an ounce, was quoted at $1,694.99 an ounce by 1021 GMT, up 0.5 percent on the day, while gold held at $1,697.40 an ounce, down 0.1 percent.
Platinum has gained more than 20 percent so far in 2012, after supply disruptions starting in January in top producer South Africa removed nearly 200,000 ounces of supply from the market, helping to erode an overhang of metal while demand in key sectors such as the European car industry remains patchy.
(Reporting by Amanda Cooper; Editing by Alison Birrane) ((amanda.cooper@thomsonreuters.com)(+44 2075423424)(Reuters Messaging: amanda.cooper.thomsonreuters.com@reuters.net))
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