January 20th , 2011
The end of the strikes in South Africa, which had led to a fall in the global supply of Platinum, could lead to an improvement in the supply of precious metal that could negatively affect its prices. The news of the resumption of the supplies led to a change in the movement of the prices of the metal across the globe.
The dollar saw a strengthening with investors moving away from the precious metal as an alternative investment option. Production has reportedly resumed in the Kroondal and Marikana mines in South Africa that had seen a reduction in supplies after the strikes. The strikes ended with the dismissal of some workers of the mines. The strike was termed as illegal from the very beginning by Aquarius Platinum Ltd, one of the prominent Platinum mines in South Africa. The platinum prices in the New York Mercantile Exchange saw platinum futures falling as a result of the news.