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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 up 20 pct since deadly clash at S. African mine * Platinum seen overbought, could tumble once strikes end * Gold flat, retreats from 6-month high as market awaits Fed * Coming up: U.S. Fed. rate decision; Thursday, 1630 GMT By Frank Tang NEW YORK, Sept 12 (Reuters) – Platinum rose around 2.5 […]<\/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-14567","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\/14567","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=14567"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14567\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Platinum up 20 pct since deadly clash at S. African mine\n * Platinum seen overbought, could tumble once strikes end\n * Gold flat, retreats from 6-month high as market awaits Fed\n * Coming up: U.S. Fed. rate decision; Thursday, 1630 GMT\n\n By Frank Tang\n NEW YORK, Sept 12 (Reuters) - Platinum rose around 2.5\npercent on Wednesday for its biggest one-day rally in a month,\nboosted by supply fears after sprawling labor unrest halted\nproduction at some mines in top platinum producer South Africa.\n Gold was up by pennies, retreating after setting a six-month\nhigh during the session, as some investors took profits ahead of\na U.S. Federal Reserve policy statement on Thursday.\n Machete-wielding strikers forced top world platinum producer\nAnglo American Platinum to shut down some South African\noperations, widening the labor unrest sweeping through the\ncountry's mining industry.\n Platinum, mostly used as an autocatalyst to clean tailpipe\nemissions, has soared 11 percent in the last eight session. The\nmetal's relative strength index (RSI) rose above 80 on Wednesday\nto 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 is\nnow getting significantly overdone,\" said Frank McGhee, head\nprecious metals trader Integrated Brokerage Services LLC.\n Spot platinum rose by 2.7 percent to $1,642.24 an\nounce by 12:42 p.m. EDT (1642 GMT), on track for its biggest\none-day percentage gain since Aug. 16. Wednesday's high of\n$1,654.49 marked its highest in five months. \n U.S. NYMEX October platinum futures were up $39 to\n$1,646 an ounce.\n The price of platinum has risen by 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 \n PLATINUM MARKET SURPLUS\n Yet a forecast surplus of platinum, stemming from faltering\ndemand from the European car industry, could limit further price\ngains, analysts said.\n \"Prior to this, this was a market that was in surplus this\nyear. It might move towards 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 South Africa produces about 80 percent of the world's\nplatinum. The strike at the operations of Lonmin have removed\nclose to 60,000 ounces of supply from the market in a month.\n Gold retreated as some investors pared their bullish bets on\nhopes of Fed stimulus. \n A Reuters poll showed that odds are mounting that the Fed\ncould take action 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 an ounce, which marked\nthe loftiest level since Feb. 29.\n Among other precious metals, silver was down 1.3\npercent at $33.01 an ounce, while palladium rose 1.7\npercent on the day to $676.97 an ounce.\n\n Prices at 12:42 p.m. EDT (1642 GMT) \n \n LAST NET PCT YTD\n CHG CHG CHG\n US gold 1734.20 -0.70 0.0% 10.7%\n US silver 32.825 -0.684 -2.0% 17.6%\n US platinum 1646.00 39.00 2.4% 17.6%\n US palladium 681.00 6.60 1.0% 3.8%\n \n Gold 1731.34 0.06 0.0% 10.7%\n Silver 33.01 -0.48 -1.3% 19.3%\n Platinum 1642.24 42.84 2.7% 17.9%\n Palladium 676.97 11.47 1.7% 3.8%\n \n Gold Fix 1737.00 -5.75 -0.3% 10.3%\n Silver Fix 33.93 41.00 1.2% 20.4%\n Platinum Fix 1644.00 8.00 0.5% 19.0%\n Palladium Fix 678.00 0.00 0.0% 6.6%<\/pre>\n