Los Angeles, CA (PRWEB) August 01, 2011
Palladium and platinum have achieved significant highs recently amidst a South African coal strike crisis.
On July 29, palladium reached $825.90 per ounce, and platinum hit $1,783.40 per ounce.
“We’re seeing a big boost to the platinum group metals because of this South African coal strike,” said Chadwick Hopkins, CEO of C.D Hopkins Metals Division, one of the country’s leading precious metal retailers.
South Africa is the world’s largest platinum producer, and one of the two largest palladium producers. Various news sources report that about 30,000 coal-mine workers in South Africa have gone on strike demanding better wages.
“Some of the most important platinum and palladium producers are affected, so this threatens the supply of platinum group metals (PGMs) worldwide,” said Hopkins. “When your supply is in jeopardy, of course the demand will increase.”
Another factor helping to boost palladium and platinum? Gold prices. According to Hopkins, gold usually leads the PGMs.
“Platinum group metals are used extensively in the auto sector for the manufacturing of cars,” said Hopkins. “Japan has finally recovered from its spring earthquake and tsunami. Popular auto companies like Ford are doing well which also helps the PGMs.”
C.D Hopkins gives investors the opportunity to purchase palladium and platinum for immediate personal delivery, or for storage at an independent bank or depository. The Los Angeles physical commodity dealer also specializes in gold and silver.
For more information about how to capitalize on the gaining PGMs, learn more about C.D Hopkins Metals Division.
About C.D Hopkins Metals Division
C.D Hopkins Metals Division is a leading precious metals dealer and financing institution located in Los Angeles, Calif., specializing in gold, silver, platinum and palladium. With a C.D Hopkins Metals Division account, you can purchase precious metals for immediate personal delivery or arrange for convenient storage at an independent bank or depository. C.D Hopkins offers options for financing and selling your precious metals and expert account representatives to fulfill your investing needs. To find out how to open an account, visit http://www.cdhopkinsmetals.com/.
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