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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * PGMs rally on supply fears after 34 killed in mine clash * Platinum hits 6-week high, largest weekly gain since Feb * Gold flat on uncertainty over possible Fed stimulus * Coming up: U.S. Chicago Fed national activity index Monday By Frank Tang NEW YORK, Aug 17 (Reuters) – Platinum group metals (PGMs) rallied […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13616","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13616"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13616\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* PGMs rally on supply fears after 34 killed in mine clash\n * Platinum hits 6-week high, largest weekly gain since Feb\n * Gold flat on uncertainty over possible Fed stimulus\n * Coming up: U.S. Chicago Fed national activity index Monday\n\n\n By Frank Tang\n NEW YORK, Aug 17 (Reuters) - Platinum group metals (PGMs)\nrallied on Friday after deadly violence at a major South African\nmine fuelled speculative buying amid expectations that supply\nfrom the world's top platinum-producing country will decline\nfurther.\n Platinum rose more than 2 percent on the day and ended the\nweek up 5.5 percent, its biggest weekly gain since late\nFebruary. Palladium surged 4 percent for its largest one-day\nrally since early July.\n Platinum and palladium, however, remain sharply below their\nhighs set earlier this year. PGMs, used by the auto industry as\ncatalytic converters to clean exhaust fumes, have come under\nheavy pressure as the European debt crisis and global economic\nslowdown curbed car production.\n Lonmin, the world's No. 3 platinum producer, said it\nhad so far lost six days of mined production, or about 15,000\nounces of platinum, since violence at its South African\noperations began last Friday. The company said it was unlikely\nto meet its full-year target at 0.75 million ounces.\n South African police killed 34 strikers at its Marikana\nplatinum mine on Thursday.\n The reduction in platinum supply due to the work stoppage\nhas so far seemed too small to drive prices higher, analysts\nsaid. Global platinum output in 2011 was 6.5 million ounces. \n \"It's all about expectation as opposed to actual market\nimpact today,\" said Philip Newman, precious metals research\ndirector at GFMS, referring to platinum's rise on Lonmin. \n Spot platinum climbed 2.3 percent to $1,467.38 an\nounce by 2:26 p.m. EDT (1826 GMT), having hit a six-week high of\n$1,469.40. Palladium was up 4.2 percent at $603.75 an\nounce.\n Trading in U.S. NYMEX platinum futures neared 16,000 lots,\n40 percent above its 30-day average, preliminary Reuters data\nshowed. Turnover in U.S. palladium was also higher than usual.\n As South Africa is the source of around 75-80 percent of the\nworld's platinum, any supply disruption there is closely watched\nfor its impact on the market balance. Lonmin typically produces\naround 2,000 ounces of platinum a day, or 60,000 ounces a month.\n \n \"Whether it is significantly tightening the market - at the\nmoment, probably not. But potentially, this could have quite a\nlong-term impact,\" Citigroup analyst David Wilson said.\n Investors are also buying platinum due to its unusual\ndiscount to gold. The gap between much-rarer platinum and gold\nstood at $150 on Friday, sharply narrowing from a record of $230\nset on Monday.\n\n GOLD STEADIES\n The price of gold, a traditional inflation hedge, flattened\non Friday on uncertainty over whether the U.S. Federal Reserve\nand other central banks will use monetary stimulus to boost\neconomic growth. \n Chances that the Fed will launch a third round of money\nprinting have risen slightly over the past month to 60 percent,\naccording to a Reuters poll that also showed economists lowering\neconomic growth expectations. \n Spot gold edged up 30 cents at $1,614.60 an ounce. It\nlost 0.3 percent on the week.\n U.S. COMEX gold futures for December delivery settled\ndown 20 cents an ounce at $1,619.40, with trading volume more\nthan 50 percent below its 30-day moving average.\n Spot silver eased 0.6 percent at $28 an ounce.\n 2:26 PM EDT LAST\/ NET PCT LOW HIGH CURRENT\n SETTLE CHNG CHNG VOL\n US Gold DEC 1619.40 0.20 0.0 1613.30 1623.00 69,728\n US Silver SEP 28.002 -0.210 -0.7 27.960 28.290 22,602\n US Plat OCT 1473.10 37.90 2.6 1435.50 1475.00 14,688\n US Pall SEP 605.10 21.65 3.7 582.90 608.80 5,010\n \n Gold 1614.60 0.30 0.0 1612.28 1619.60 \n Silver 28.000 -0.180 -0.6 28.040 28.340\n Platinum 1467.38 32.88 2.3 1440.50 1469.50\n Palladium 603.75 24.55 4.2 585.00 605.25\n \n TOTAL MARKET VOLUME 30-D ATM VOLATILITY\n CURRENT 30D AVG 250D AVG CURRENT CHG\n US Gold 74,379 158,167 186,154 16.68 -0.31\n US Silver 27,348 40,011 56,500 23.2 0.35\n US Platinum 15,913 11,465 9,529 21 -2.00\n US Palladium 6,223 4,925 4,587<\/pre>\n