Platinum comes under pressure as dollar rises

Platinum fell today with the return of pressure on some precious metals on a brief respite in global markets after yesterday's massive stocks losses due to global economic recession fears, while dollar rises against a basket of currencies.

Platinum mining companies are in dire straits in the current period, amid the industry's negotiation with labor unions on wages.

Meanwhile, by 14:32 GMT, dollar index rose by 0.2% to 98.1 points, with a high of 98.2 and a low of 97.8.

Investors took shelter in precious metals yesterday due to recession concerns over the US economy after the bond yield curve inversion, which led to heavy losses in the the markets.

By 14:42 GMT, platinum fell by 0.6% to $840.5 an ounce, with a high of $848.5 dollars and a low of $833.6.