Platinum up, closes at 25-year high over $1,000/oz

Newswire

NEW YORK, Nov 28 (Reuters) - Platinum futures rose on Monday, closing at over $1,000 an ounce for the first time since March 1980, the month the price for the metal, needed for removing pollutants from automobile exhaust, hit a record high. This year, not enough platinum is being mined and recycled to meet commercial demand for catalytic converters and jewelry, so fundamentals have factored into the buoyant market. Still, Monday's platinum buying was technical, traders said. Tokyo ...

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