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Rand-priced platinum hits 2012 high

Sep 12 2012 12:47 Reuters

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London - Platinum priced in rand rose by 3.3% to reach its highest level so far this year on Wednesday, boosted by the weakness in the currency and by spreading violence and unrest in the South African mining industry.

Platinum priced in rand was up at R13 405.7 an ounce, its highest since mid-November, set for its largest one-day gain in a month. In dollars it costs $1 645 an ounce

The rand was last down 0.4% against the dollar, but still held around one-month highs against the US currency.

South African police said striking miners had blockaded roads leading to shafts belonging to Anglo Platinum [JSE:AMS], the world's largest platinum producer.


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