prcious metalas flash

Yesterday once again gold tested and failed above $ 1750 and had the “usual afternoon correction” down to $ 1725.00. Gold still feeds of the currency moves and the ever pending situation in Greece. A higher than expected Chinese CPI, 4.5 % vs. 4.0 % forecast had little impact on the metals. Impala, Platinum producer of about 25 % of global platinum said, that there is “no indication of production resuming anytime soon”. This morning Platinum is trading higher again, at $ 1665.00. The XPT/XAU spread narrowed to $ 75 from a low $ 216 in December. Should the strike not be resolved soon, Platinum could reach parity with gold soon. Palladium is also showing signs of strength, yesterday Norilsk Nickel, the world`s largest Palladium producer said, that “PGM`s have investment potential comparable or even greater than gold”. He sees the price of Palladium at $ 2100 and Platinum at $ 2500 in five years` time. Another PGM producer, Lonmin said, that the risk of platinum supply disruptions in South Africa is growing