Platinum Rises in New York on Weaker Dollar, South African Supply Concerns

(Bloomberg) -- Platinum extended a rally in New
York, heading for its third straight weekly gain, as the
declining value of the U.S. dollar boosted investment demand
and supply concerns strengthened. Palladium also rose.

A weaker dollar boosts the precious metals' appeal as
alternative investments. Platinum has climbed 18 percent this
year while the dollar is down 4.5 percent against the euro.
Platinum rose for a third day amid delivery delays from Lonmin
Plc, and labor disputes at Aquarius Platinum Ltd., Northam
Platinum Ltd. and Impala Platinum Holdings Ltd.


Read more at Bloomberg Commodities News

Platinum Futures Rise on Concern of South African Strike; Palladium Gains

(Bloomberg) -- Platinum rose in New York on concern
workers at Johannesburg-based Impala Platinum Holdings Ltd., the
world's second-largest producer of the metal, may strike after
rejecting an increased pay offer. Palladium also gained.

South Africa's National Union of Mineworkers said an Impala
pay offer yesterday was insufficient. Workers want an average
15 percent increase, while the company is offering 7.5 percent to
9 percent pay raises, the union said. Impala ``is not making
substantive moves,'' said Eddie Majadibodu, a union negotiator.


Read more at Bloomberg Commodities News

Platinum, Palladium Rise as Falling U.S. Dollar Boosts Investment Appeal

(Bloomberg) -- Platinum and palladium rose in New
York along with other precious metals as a decline in the U.S.
dollar boosted their appeal as alternative investments.

The dollar fell to a two-week low against the euro after
European Central Bank President Jean-Claude Trichet suggested he
may extend interest-rate increases. Platinum, mostly traded in
dollars, has risen 14 percent this year as the dollar dropped
1.5 percent against a basket of six major world currencies,
including the euro.


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Platinum Falls in Asia as Rising Dollar Reduces Metal's Investment Appeal

(Bloomberg) -- Platinum futures declined in Tokyo
following a fall in the price of the metal for immediate delivery
as a stronger U.S. dollar reduced its appeal as an alternative
investment.

Spot, or cash market, platinum often moves in the opposite
direction of the U.S. currency, which rose against the euro and
traded at a 4 1/2-year high against the yen. A Federal Reserve
report showed manufacturing in the Philadelphia area accelerated
in June at the fastest pace in more than two years.


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Platinum, Palladium Decline in New York on Dollar's Rally, Interest Rates

(Bloomberg) -- Platinum fell the most in three
weeks in New York as the dollar strengthened, reducing the
appeal of metals as alternative investments to stocks and bonds.
Palladium also dropped.

The dollar rose for the sixth straight day against the euro
and gained versus the yen after a government report showed U.S.
retail sales increased more than economists had forecast.
Precious metals are traded in dollars and often move in the
opposite direction of the U.S. currency.


Read more at Bloomberg Commodities News

Platinum Rises on Possible Strike in South Africa; Palladium Also Advances

(Bloomberg) -- Platinum rose the most this month in
New York, rebounding from last week's decline on speculation
miners may go on strike in South Africa, supplier of almost
80 percent of the metal. Palladium also gained.

Wage talks are in their fourth week since Anglo Platinum
Ltd., the world's largest producer, offered a 5 percent raise.
Workers want a 15 percent increase.


Read more at Bloomberg Commodities News

Platinum Declines in London as Industrial Demand May Slow; Palladium Drops

(Bloomberg) -- Platinum fell on speculation slowing
industrial demand will exacerbate a surplus of the precious
metal. Palladium also declined.

Demand for the metal in electronics, car-exhaust systems and
other industrial uses usually slows in summer in the Northern
Hemisphere, said Rory McVeigh, senior platinum trader at
Commerzbank AG in Luxembourg. Supply exceeded demand last year
for the first time since 1998, London-based manufacturer Johnson
Matthey Plc said last month.


Read more at Bloomberg Commodities News

Platinum Rises on Speculation of Increased Demand From Metal-Backed Funds

(Bloomberg) -- Platinum rose amid speculation that
demand from exchange-traded funds for the metal used in auto-
catalysts and jewelry will be higher than expected.

Zuercher Kantonalbank, a state-controlled Swiss lender,
introduced funds, known as ETFs, for platinum, palladium and
silver earlier this month. The funds have investment equal to
25,000 ounces of platinum, and 133,000 ounces of palladium,
according to a report from HSBC Securities (USA) Inc.


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Anglo, Angloplats boost S.African stocks

(Reuters) - South African stocks pushed higher on Monday as a weaker rand, firmer base metal prices, a broker upgrade and talk of sector consolidation buoyed miners like Anglo Platinum and Anglo American.

The Johannesburg Top-40 index of blue-chip stocks rose 1.2 percent to 25,679.52 points, while the All-share index climbed 1.1 percent to 28,642.40 points.


Read more at Reuters Africa

Union asks Implats for 15 pct increase

(Reuters) - South Africa's National Union of Mineworkers (NUM) has demanded a 15 percent wage increase from Impala Platinum, the world's second-biggest platinum producer, an official said on Friday.

"We are asking for a 15 percent across-the-board increase from Implats," union spokesman Lesiba Seshoka told Reuters.


Read more at Reuters Africa