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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":" * Platinum seen overbought, could tumble once strikes end * Gold flat, retreats from 6-month high as market awaits Fed * Silver demand seen not sustaining price above $30-analyst * Coming up: U.S. Fed rate decision, policy statement Thursday By Frank Tang NEW YORK, Sept 12 (Reuters) – Platinum rose almost 3 percent on Wednesday, […]<\/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-14566","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\/14566","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=14566"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14566\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Platinum seen overbought, could tumble once strikes end\n * Gold flat, retreats from 6-month high as market awaits Fed\n * Silver demand seen not sustaining price above $30-analyst\n * Coming up: U.S. Fed rate decision, policy statement\nThursday\n\n\n By Frank Tang\n NEW YORK, Sept 12 (Reuters) - Platinum rose almost 3 percent\non Wednesday, its biggest one-day rally in a month, boosted by\nsupply fears after sprawling labor unrest halted production at\nsome mines in top platinum producer South Africa.\n Gold was up by just pennies, retreating after hitting a\nsix-month high during the session. Some investors scaled back\ntheir bullish bets before a Federal Reserve decision on Thursday\nabout new economic stimulus.\n Machete-wielding strikers forced No. 1 platinum producer\nAnglo American Platinum to shut down some South African\noperations, widening the labor unrest sweeping the country's\nmines. South Africa has 80 percent of the world's platinum\nreserve.\n The price of platinum, mostly used as an autocatalyst to\nclean auto emissions, has soared 11 percent in the last eight\nsessions. The metal's relative strength index (RSI) rose above\n80 on Wednesday to its most overbought level since early 2008.\n \"Platinum's rally is very strike-specific at this point, and\nit may pull back when the supply worries are over, as platinum\nis now getting significantly overdone,\" said Frank McGhee, head\nprecious metals trader Integrated Brokerage Services LLC.\n Spot platinum rose 2.8 percent to $1,644.74 an ounce\nby 2:10 p.m. EDT (1810 GMT), its biggest one-day percentage gain\nsince Aug. 16. Wednesday's high of $1,654.49 marked its best\nlevel in five months. \n U.S. NYMEX October platinum futures settled up $42.60\nat $1,649.60 an ounce, with volume almost double its 250-day\naverage, preliminary Reuters data showed.\n Palladium rose 1.6 percent to $676.47 an ounce.\n The price of platinum has risen nearly 20 percent since a\nstrike at the world's third-largest producer, Lonmin,\nturned violent last month, leaving 44 dead and dozens injured in\nclashes between police and striking workers.\n Despite rising supply fears in South Africa, a forecast\nsurplus in platinum due to faltering demand from the European\ncar industry could limit further price gains, analysts said.\n \"Prior to this, this was a market that was in surplus this\nyear. It might move toward balance, but it's not a market that\nis going to be in a significant deficit this year,\" said David\nJollie, analyst at Mitsui Precious Metals.\n \n ALL EYES ON FOMC\n Gold retreated as some investors took profits after an 8.5\npercent rally since August on hopes for new Fed stimulus. \n A Reuters poll showed chances are increasing that the Fed\nwill act on Thursday to energize a U.S. economy that is\nstruggling to gain momentum in the face of a lackluster labor\nmarket and uncertain fiscal policy. \n Spot gold inched up 6 cents to $1,731.34 an ounce,\nsharply below a session high of $1,746.20, which marked its\nloftiest level since Feb. 29.\n U.S. COMEX December futures settled down $1.20 at\n$1,733.70 an ounce, with volume heavier than usual, about 25\npercent above its 30-day average.\n Silver was down 0.8 percent at $33.22 an ounce. It\nhas gained more than 9 percent in the last nine sessions.\n \"There isn't enough physical demand to sustain prices above\n$30, both from investors and fabricators,\" said Erica Rannestad,\nprecious metals analyst at CPM Group. \n\n 2:10 PM EDT LAST\/ NET PCT LOW HIGH CURRENT\n SETTLE CHNG CHNG VOL\n US Gold DEC 1733.70 -1.20 -0.1 1727.30 1749.50 148,882\n US Silver DEC 33.292 -0.274 -0.8 32.510 34.145 62,570\n US Plat OCT 1649.60 42.60 2.7 1603.50 1659.50 16,200\n US Pall DEC 679.30 4.40 0.7 665.45 683.35 4,314\n \n Gold 1731.66 0.02 0.0 1726.20 1746.20 \n Silver 33.220 -0.270 -0.8 32.500 34.080\n Platinum 1644.74 45.34 2.8 1606.00 1654.49\n Palladium 676.47 10.97 1.6 668.27 680.50\n \n TOTAL MARKET VOLUME 30-D ATM VOLATILITY\n CURRENT 30D AVG 250D AVG CURRENT CHG\n US Gold 163,287 133,317 196,124 19.44 0.30\n US Silver 68,742 53,493 58,222 28.75 0.54\n US Platinum 18,389 16,407 8,943 23 0.00\n US Palladium 4,326 7,662 4,385<\/pre>\n