Platinum, palladium rise following upbeat reports on auto sales; other metals also rise
By Stephen Bernard, APTuesday, March 2, 2010
Platinum, palladium rise on upbeat auto sales
NEW YORK — Platinum and palladium are rising following upbeat reports on auto sales.
The two metals are used to make catalytic converters for automobiles, so any signs of growing demand for cars drives prices higher.
Ford said Tuesday its U.S. sales jumped 43 percent in February, while General Motors reports sales jumped 11.5 percent.
Platinum for April delivery is up $32.00, or 2.1 percent, at $1,576.00 an ounce. March palladium is up $6.95 at $443.45 an ounce.
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