A large overnight selloff has taken January platinum down to their lowest price levels since September 7th. Some traders feel that fears of global slowing which were generated by negative US corporate earnings and guidance have put pressure on a host of physical commodity markets like platinum. Even though labor tensions have continued in South African gold and platinum mining operations, any threat against supply may have been pushed to a back burner status because of macro economic slowing concerns. With weak global equity markets enhancing fears of slowing, some in the market feel that platinum could be vulnerable to additional pressure until the FOMC statement release on Wednesday.
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