Platinum falters.(Commodity Report)

AFTER REACHING AN all-time record of US$2,192 an ounce on 21 February, platinum for the most part continued to trade above US$2,000 an ounce in the first half of March. However, the precious metal slipped to US$1,960 on a spot basis on 18 March as the gloom in world equity markets made itself felt. Platinum, like gold, has been underpinned by the weaker dollar, but concern about supplies has been the real driver in recent weeks. News that South Africa's electricity supplier would let mines raise power use to 95 per cent from the 90 per cent in operation since 4 February, caused prices to slip. Spot prices fell from US$2,157 on 3 March to a low of US$2,020 on 7 March.

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