Live London Gold News Wire

NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
Forex: AUD/USD extends the upside despite mixed data	01:39 FXstreet - Forex News
Blocking Gold Circle acquisition ‘could harm horse racing’	01:38 Business Day - Business
5 to 10 minutes old www.usagold.com --LIVE NEWS--
IMF’s Shinohara: BOJ has room for further monetary stimulus to achieve its 1% inflation target	01:34 ForexLive.com
German inflation slows in September: Report	01:31 The Economic Times - International Business
Fischer: Security situation has low economic impact	01:31 Israel Business Arena - Business
IMF chief demands swift action in tackling euro crisis	01:31 Deutsche Welle - Business
Holding World Economic Forum in Jordan shows the country is 'stable'	01:30 Mena Report - Economy & Trade
Geithner: US economy growing despite headwinds	01:30 The Oklahoman
10 to 15 minutes old www.usagold.com --LIVE NEWS--
Commodity bets: Trad tips for nickel, silver, copper, crude	01:30 MoneyControl.com
Forex Flash: Spanish downgrade fallout – UBS	01:29 FXstreet - Forex News
Core CAPEX: Effective As A Recession Indicator?	01:29 SeekingAlpha - Macro View
Swiss franc at one month high vs euro	01:27 The Economic Times - Markets
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Japan's economy sputtering, likely shrank in Q3: Report	01:23 The Economic Times
French rate of inflation slowed down to 1. 9% in September	01:22 AGI.it - Sport
SNAPSHOT-India stocks, bonds, rupee, swaps, call at 0700 GMT	01:21 Reuters - Industry, Materials & Utilities
Goldman’s Cohn Sees ‘Small’ Chance Euro Area Will Stick Together	01:20 Bloomberg - Industries
Forex: EUR/USD remains in mid 1.28s	01:19 FXstreet - Forex News
Forex: EUR/GBP drops to 0.8030	01:19 FXstreet - Forex News
ECB's Nowotny: No need for change in ECB rate policy	01:18 Reuters - Economy
Pound Gains 3rd Day Versus Euro After S&P Lowers Spain’s Rating	01:17 Bloomberg - Markets - Currencies
ECB’s Nowotny: Sees North-South divergence in the Eurozone	01:14 ForexLive.com
ECB Nowotny: No Need To Change ECB Int Rate Policy At Moment	01:14 ForexLive.com
Romney promises to get tougher on China but ‘Day One’ currency promise could backfire	01:13 The Washington Post
U.S. mined silver output down 12% in July 2012-U.S. Geological Survey	01:12 Mineweb
Warning of Triple dip recession in UK	01:11 Business World
Company Snapshot, including Burberry, Direct Line, Glencore, Range Resources, Chariot Oil & Gas, Hambledon Mining, Condor Gold, ValiRx	01:11 Proactiveinvestors
Rand gains vs dollar, recovers from 3-1/2 yr low	01:10 Yahoo! US - Business
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Forex: USD/CHF back to 0.9400	01:09 FXstreet - Forex News
Loans to small O.C. firms collapsed in recession	01:08 The Orange County Register
Outlook for Europe: Political, economic uncertainty	01:07 Scoop - Business
Indonesia Holds Benchmark Rate to Shield Weakening Currency	01:05 Bloomberg - Economy
China raises rail spending plan again to support economy	01:03 Fox Business - Industries
Russia's Nord Gold Q3 revenue up 27 pct yr/yr	01:01 Reuters - Industry, Materials & Utilities
Forex: USD/JPY retraces last week's advance	00:59 FXstreet - Forex News
France Sep Inflation ex-tobacco (MoM) falls to -0.3% vs 0.7% in Aug	00:59 FXstreet - Forex News
IMF Chief: Global economy under 'veil of uncertainty'	00:58 CNN Asia
BOJ's Shirakawa says will mention yen at G7	00:58 Reuters - Economy
MOF Offl: Japan, China Should Use Swaps To Up Yen-Yuan Trades	00:54 ForexLive.com
IMF Lagarde Said to Say Yen Has Somewhat Over-Appreciated	00:54 ForexLive.com
Martin Weale casts doubt on QE as he sounds alarm over inflation	00:54 ForexLive.com
BOJ’s Shirakawa: Global economy is very unstable	00:54 ForexLive.com
IMF chief urges quick action in tackling euro crisis	00:53 The Economic Times
FX round-up: Euro down after Spain downgrade	00:53 ShareCast
Germany's inflation rate slows in September to 2. 0%	00:51 AGI.it - Sport
Condor Gold unveils plans to buy concession next to La India for US$1m	00:51 Proactiveinvestors
Forex: GBP/USD hovering over 1.6000	00:49 FXstreet - Forex News
Lessons From 5 Years Of Economic Crisis	00:49 SeekingAlpha - Macro View
Kinross Gold CFO leaves two months after CEO	00:42 Mineweb
Currencies: Dollar slips back in Asia trading hours	00:40 MarketWatch
Earlier Today www.usagold.com --LIVE NEWS--
SA economy a chronic sufferer from Dutch disease	00:38 Business Day - Markets

Platinum and Palladium Weighed by Mounting Growth Risks

by Peter A. Grant

Oct 10, AM
(from USAGOLD.com) --

Platinum and palladium have come under pressure, amid mounting global growth concerns. This week alone, we've seen significant downward revisions to global and regional growth forecasts by the World Bank, the Asian Development Bank and the IMF. That's not to mention the recent downward revisions to US Q2 GDP to an anemic 1.3%, and Q3 expectations to just 1.4%.

According to the International Platinum Group Metals Association, a quarter of all goods manufactured today either contain platinum group metals (PGMs), or the PGMs play a significant role in their manufacturing process. It is therefore not surprising that indications of a broad economic slowdown would create an expectation of softer demand for the white industrial metals.

Palladium set 6-month highs in September on the back of robust auto demand and supply concerns centered on South African labor unrest. While there has been a little ebb and flow in the labor situation in recent weeks, it is far from resolved. In fact, some mass mining industry layoffs associated with wildcat strikes suggest things may be heating up again on that front. So while there may be renewed demand concerns in the PGMs, they are being offset — at least to some degree — by persistent supply worries.

About 40% of global palladium supply comes from South Africa, second only to Russia at 44%. By comparison, 80% of platinum supply comes from South Africa. In that context, it makes sense that the latter was the better performer during the recent rally; and has been more resilient in the current corrective phase.

Platinum did mount the expected challenge of the little $1733.00/$1733.50 double top from February (see 12-Sep commentary), reaching an 8-month high of $1728.50 on Friday last week. Palladium gains stalled at $703.60, leaving the corresponding February highs at $722.70/$724.10 well protected. Palladium has been unable to sustain probes above the 100-week moving average, while platinum is holding gains above the 100-week MA.

Of the white metals (including silver), I think platinum remains the most constructive from both technical and fundamental perspectives. However, rising growth risks, along with ongoing concerns over the eurozone debt crisis and US fiscal cliff, make it likely that gold will outperform the white metals over the near to medium term. Global central banks will be forced to continue pushing-back against these risks via their campaigns of super-accommodative monetary policy and currency debasement for the foreseeable future, making a monetary metal like gold increasingly appealing.

Peter Grant is USAGOLD's resident economist and a well-known analyst globally in the forex and precious metals markets.

NEWSLETTER SIGN-UP

Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

Gold dealers index of gold coin images - popular investments

USAGOLD Bulletin Board

Just released!
The all new Third Edition

Chapters

Reviews

Preview

Order

The Third Edition of this classic how-to details gold's rising prominence in the global financial arena and offers insights as to what this surprising and historic shift in sentiment might mean to the gold market of the future. It also suggests practical guidelines for adding gold to your portfolio drawing from the author's nearly 40 years experience in the gold business.

"Highly recommended!"
The Midwest Book Review

1-800-869-5115
Marie, Extension #106

Looking for the right
gold firm?

Competitive rates
Safe, quick delivery
Zero complaints at BBB
Friendly, professional service
Recognized industry leader

You just found it.

USAGOLD
Celebrating our 39th year
in the gold business.

Seven reasons
high-net worth gold
investors choose
USAGOLD

Video Roundtable:

Fundamentals pave way
for gold breakout

Precious Metals Trading and Storage Program
Competition for the ETFs
with a delivery option

VISIT OUR NEW PAGE!

Gold's Secular Bull Market
Past-Present-Future

Good Stuff !

P.O. Box 460009
Denver, Colorado 80246-0009

1-800-869-5115 (US)
00-800-8720-8720 (EU)

303-399-6759 (Fax)

[email protected]

Office Hours

6:00am - 7:00pm
(U.S. Mountain Time)
Monday - Friday

American Numismatic Association
Member since 1975

Industry Council for Tangible Assets

zero complaints

Thursday October 11
website support: [email protected]
Site Map - Privacy - Disclaimer
The USAGOLD logo and stylized gold coin pile are trademarks of Michael J. Kosares.
© 1997-2012 Michael J. Kosares / USAGOLD All Rights Reserved

Daily Gold Market Report

Platinum and Palladium Weighed by Mounting Growth Risks