Platinum Becomes a Victim of the Chinese Market Slump

15/01/2016 09:18 AST

The current 2016 rout in precious metals is most visible in platinum and palladium. Both these metals have seen significant drops in 2016.

Platinum and palladium prices have fallen 5.2% and 14%, respectively, on a year-to-date basis. The 4.7% rise in vehicle sales in China has also been the lowest growth in almost three years. Lowered sales and the economic slump in China have weighed on platinum’s price, which has fallen about 1.9% during the past five trading days. Platinum is used in the catalytic converters that help to curb the harmful emissions in diesel-based cars.

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