Yes Sellier, nice to see Platinum continuing its climb. Reasons attributed are as follows:
1. Chinese motor vehicles sales up. 2. Chinese in the market buying triggered speculators to join in.
3. Toyota reversed a decison to close a car manufacturing plant in Germany after sales kicked due to very compelling government incentives for people to scrap their old vehicles and buy a new one.
4. EFT's have been increasing their investment in the metal and a new Platinum EFT is just being registered in New York now and will also be in the market soon buying.
All systems go folks. These are great fundamentals but I must stress that they have no impact on the IGC takeover as this is going to proceed irrespective of the short term price of Platinum but I always like the value of the share price to underlying asset to be supported by fundamentals (Value exceeds share prices by 2:1).
IGC Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
