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Latest Stories

Platinum, Palladium ETFs Down on Growth Concerns

Exchange traded funds that invest in platinum and palladium were lower in the first half of 2011 on concerns about the global economy, the Japan earthquake and the European debt crisis. Platinum and palladium are precious metals like gold and silver. However, they are also favored for their industrial uses, such as automobile production.

Police arrest 2 suspects in high-tech platinum theft

Police have arrested two men in connection with a theft of platinum worth over NT$44 million from a high-tech company in Hsinchu County, officials said yesterday. Police also managed to recover 18 kilograms of platinum from the suspects during the arrests in Taoyuan

BIV: Law firm launches class action suit against Eastern Platinum

BIV reports that Eastern Platinum, a Vancouver-based precious metals producer (TSX:ELR), will fight a class action lawsuit filed against it earlier this week: On Tuesday, Siskinds LLP, a London, Ontario-based firm, filed a suit in the Superior Court of Ontario that alleges Eastern failed to disclose “material information” about an interruption of operations at its Crocodile River mine in January.

South Africa mines nationalization talk may cut output

Bloomberg reports South Africa risks cutting the mine output that contributes 8.8% of the economy as calls from within the governing political party for a state takeover of the industry deter investors, Impala Platinum Holdings said. Mine operators in South Africa are compelled by law to sell 26% of their assets to black investors by 2014 and boost numbers of black managers to help make up for discrimination during apartheid. Some companies had missed targets for 2009, the mines minister said at the time, adding that the industry had “not lived up to the spirit and intent” of the law.

China’s massive appetite for commodities sparks concern

China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Chinese government and company officials are signing agreements at a dizzying pace around the world, including in places where few other foreigners invest.

Strong demand for squares, parcels at Hong Kong show

High prices sway buyers towards goods otherwise they would not have widely considered, according to exhibitors at the June Hong Kong Jewellery & Gem Fair. Buyers opted for Very Good makes instead of Triple Excellent and parcels instead of Dossier i...

That shave will cost you $100,000

Exotic materials are finding more and more uses, including a really expensive way to shave. Zafirro is taking orders for a $100,000 razor made with sapphire blades and a 99.95% iridium handle. Iridium is a member of the platinum group metals, and one of the least abundant materials on earth.

Jewellers provide support as gold prices bounce

Gold rebounded on Tuesday after posting its biggest one-day loss in a month in the previous session on growing worries about another global economic downturn, but a weaker U.S. dollar and bargain hunting by jewellers offered support. While signs of a cooling Chinese economy could weigh on industrial metals, dealers expect no change in China's appetite for bullion. Investors were also awaiting a trail of U.S. data later in the day which could set the tone for commodities.