Asia Platinum-Downside seen limited after sell-off

Newswire

By Lewa Pardomuan SINGAPORE, April 27 (Reuters) - Sound fundamentals will limit the potential downside for platinum prices after the precious metal's value fell more than 10 percent in the last two weeks, dealers said on Tuesday. Platinum, used in jewellery and automobile catalytic converters, hit a 24-year peak of $942 an ounce on April 13, sparking a round of profit taking by fund managers. The metal touched a 12-week low at $819 an ounce on Monday, but has bounced since. "There ...

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