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Platinum on The Rise.
Platinum surged in Europe today and was seen hitting a 25-1/2-year high as speculators continued to buy the metal, used mainly in jewelery and car catalytic converters. Spot platinum was quoted at $941/944 a troy ounce, just below the April 2004 peak.
Analysts believe Platinum will hit $950.00 in the near term as it has the strongest fundamentals of all the precious metals.
If these prices firm, look for price increases in Platinum jewelry this upcoming Holiday shopping season.
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