Platinum hits 2-month high

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PlatinumJewellery

REUTERS

A saleswoman displays platinum rings.

London - Platinum prices hit two-month highs on Wednesday as about 1,000 strikers gathered outside a platinum mine in South Africa to stop workers from breaking the longest and costliest bout of industrial action in the sector's history.

Spot platinum hit a high of $1,470.25 an ounce and was up 1.4 percent at $1,464.99 an ounce at 13:27 SA time.

The president of South Africa's striking Amcu union urged its members on Wednesday to remain united and strong in the face of efforts by the three major platinum companies to force miners to end a 16-week stoppage.

“Let's stay strong. Yes it's difficult but let's hold each other by the hand and stay strong. Onward!” Joseph Mathunjwa told thousands of strikers at a rally near the Marikana operations of London-listed producer Lonmin. - Reuters


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