Platinum hits one-week high

Economies.com
2017-04-07 14:12PM UTC

Platinum prices rose on Friday to a one-week high after mixed U.S. employment data that forced the dollar to waver and opened the door for platinum to recover and register a weekly profit. 

 

Platinum last traded at $973.0 an ounce, up from the opening of $960.05, with an intraday high at $981.75, and a low at $958.45. 

 

The U.S. labor sector improved less than expected regarding to new jobs in March, while the unemployment rate missed expectations as well, forcing the dollar to waver. 

 

Because of the dollar's wavering, platinum rose today after a string of sideways movements this impacted the metal this week. 

 

Platinum is considered a safe haven in the markets, which buoyed it today after news broke of a U.S. strike on Syrian targets. 

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