Market News and Commentary – Wall Street Underground

By Nick Guarino | August 29, 2019

Platinum Soars As China Considers Relaxing Car Restrictions

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THIS IS ABOUT A LIZARD BRAIN TRADE THAT IS OPENING UP… I’LL EXPLAIN IN THE TAPE!

Precious metals traded in the green on Thursday with platinum soaring nearly 3% after China said it is considering relaxing restrictions on auto purchases.

The country’s State Council outlined 20 measures in order to boost consumption as the protracted trade war with the United States takes its toll on China’s economy. Gold gained 0.08% to $1,541.09 per ounce at 10:09 am ET, while silver jumped 1.13% to for $18.57 for one troy ounce. At the same time, platinum, mostly used in the automotive industry, surged 3.11% to $929.48, while sister metal palladium climbed 0.88% to $1.487.26 per ounce.

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