Platinum prices hit a three-month high on Monday as speculation for further supply outages in major producer South Africa sparked buying, pushing the metal back towards parity with gold.

Traders are awaiting the outcome of a review of mining operations at number one platinum miner Anglo American Platinum by its parent company Anglo American. The company is widely expected to announce at least some shaft closures later this week.

Spot platinum was up 1.6 percent at $1,655 an ounce at 15:07 SA time, having touched a high of $1,660 an ounce. - Reuters