Platinum breaks all-time U.S. record high at $1,068.00 per ounce!

The spot price of platinum climbed to a fresh all-time high of $1,068.00 today on a number of supportive factors, analysts said. London Gold Fix $562.25 +6.60 LME COPPER STOCKS 101,500 metric -1,575 tns COMEX Gold stks 7.169 ml oz Unchanged COMEX SILVER stks 122.8 ml oz +407,054 oz

Wednesday, January 25, 2006
FreeMarketNews.com

The spot price of platinum today climbed to a fresh all-time high of $1,056 an ounce on a number of supportive factors, analysts said. At midday, platinum was quoted at $1,056/oz, up $7/oz from the metal’s previous close.

Platinum was higher on the strength in the rest of the precious metals complex, with gold close to its recent long-term high, and silver having climbed to a fresh 18-year high, London-based HSBC analyst Alan Williamson said.

Silver had been boosted by gains in base metals, UK-based TheBullionDesk.com analyst James Moore wrote. Silver also tracks movements in base metals because of its industrial applications such as its use in batteries, brazing and soldering as well as catalysts.

Other supportive factors for platinum had been the strong rand, which was last at R6,0056 to the US dollar from late trade yesterday of R6,0250, increased speculative positions in platinum, which had taken the total length in platinum to within 200,000 oz of its record high, Williamson added.

According to the Trend Traders Report by Neal Weintraub that trend will continue for some time. For market trade pattern trends visit: www.PatternTrapper.com

Read the entire story at: BusinessDay.co.za
http://www.businessday.co.za/articles/markets.aspx?ID=BD4A144266


Wednesday, January 25, 2006 Market Closing Report
Dow Closes Down 2, Nasdaq Finishes Down 5

Stocks fell Wednesday asdeclining oil prices sent the energy sector lower and investors continued their jittery reactions to corporate earnings. Broader stock indicators were lower.

Declining issues outnumbered advancers by roughly 9 to 7 on the New York Stock Exchange, where volume came to 1.92 billion shares, up from 1.88 billion traded at the same point on Tuesday. According to preliminary calculations, the Dow Jones industrial average fell 2.48, or 0.02 percent, to 10,709.74. The Standard & Poor's 500 index fell 2.18,or 0.17 percent, to 1,264.68 and the Nasdaq composite index fell 4.60, or 0.2 percent, to 2,260.65.

Nervousness about unrest in Nigeria and Iran's nuclear ambitions helped send the energy sector lower. Crude oil futures fell, dropping 10 cents a barrel to $66.75 in trading on the New York Mercantile Exchange. Bonds fell, with the yield on the 10-year Treasury note rising to 4.47 percent from 4.39 percent late Tuesday. The dollar rose against other major currencies; gold prices also climbed.

Energy stocks, such as Halliburton Co. and Valero Energy Corp. fell alongwithcrude oil futures, pulling the Standard & Poor's 500 index lower on a day when most other sectors were nearly flat. Trading has remained erratic after last Friday's big drop, which sent the Dow down 213 points. The sell off followed a strong start to 2006, which sent the major indexes to multi-year highs.