Violence at South Africa Mine Sends Platinum Higher

Violence between miners and police at a South African platinum mine sent the price of platinum to its highest level since the beginning of July on Friday. Overall, the precious metal advanced more than $39 for the day before finishing out the week at $1474.10. This week, traders will want to continue monitoring the ongoing situation in South Africa, the world's leading source of platinum. Recent violence between striking workers and police has led to supply side fears that have driven prices higher. Unless the situation in the country is resolved peacefully in the near future, the price of platinum may continue spiking.

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