Palladium price surges to 22-month high

South African police began firing on a surging crowd of workers leaving 18 people dead.

A nightshift policeman hacked to death during clashes between rival unions brings to nine the number of fatalities at Lonmin's platinum mine in the North West province of South Africa.

Unless it mounts a challenge against its $1,500 resistance level, platinum will "stay on loose grounds" and will fail to attract new investment.

Congregants are expected to throng the Shree Swaminarayan temple in New Jersey this Sunday to ceremonially weigh their guru in honour of his 70th birthday. Preliminary estimates are that Swami Purushottampriyadasji's good works are worth just under $4 million or the equivalent of 40,000 catalytic converters.

Three protestors are dead and 20 are injured at Aquarius Platinum's Kwezi shaft when 200 disgruntled former contractors, some carrying petrol bombs, forced their way onto the company's property.

Bongani Mbindwane, CEO of South African junior explorer Platfields (SJ:PLL), has written an open letter to South Africa's mineral resources minister calling for direct assistance in dealing with the platinum sector's dire condition.

Platinum's poor performance relative to gold of late may be due to its lack of status as a safe-haven investment and a credible means of storing value.

The Royal Bafokeng nation, who control vast parts of the platinum belt in the north west province of South Africa warned that earnings at its main investment vehicle could be down by between 52% and 62% over the first six months of 2012.

Deutsche Bank expects that platinum supply could see further cutbacks as economic/social pressures in South Africa mount and the price could be dragged higher by stronger gold prices over the remainder of 2012.