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Lughnasadh

Saturday Aug 2

Bullion & Business Weekend Report - Aug 2

Precious metals slid lower for the week with platinum feeling the worst of it after poor automotive results were announced. The metal is used in catalytic converters, which accounts for some 50 percent of its demand. Silver lost 12 cents for the week and gold dropped $17 mostly due to lower oil prices and strength in the US dollar.

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Joined: Sat Aug 2
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#1
Sunday Aug 3
 

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I can't remember a time when resources showed such volatility - any one else out there remember a time like this?

- John Briner, Vancouver
Joined: Mon Aug 4
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Monday Aug 4
 

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Having said that, the decline in automobile production and sales should not affect platinum too substantially - there are less than two grams of platinum in the average catalytic converter.

- John Briner, Vancouver
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