Platinum rises most in four months as rand boosts mine-cost outlook

September 7, 2016

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Platinum futures had the biggest gain in more than four months as a rise in South Africa’s rand spurred speculation that production costs will rise.

The rand led gains in emerging-market currencies as data showed South Africa’s economy expanded last quarter on a rebound in mining and factory output. The nation accounts for 73% of world platinum production, according to New York-based researcher CPM Group. Platinum has risen about 23% this year, trailing returns in silver and gold.

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