Posted AT 3:35 PM EST on 01/08/08
Platinum dives 6 per cent on weak demand
NEW YORK/LONDON — Platinum ended 6 per cent lower and palladium also sank Friday as a spate of poor results from the automotive sector and firmer oil prices triggered a sell-off.
Gold recovered earlier losses, however, as oil prices rose, boosting interest in commodities and fuelling fears over inflation, and as the dollar steadied.
Spot platinum ended at $1,646.50/1,666.50 (U.S.) an ounce, sharply below $1,749.50/1,769.
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