Platinum rebounds off two-week lows, dollar scales 16-month peak

Platinum prices rose one percent in American trade off October 18 lows, while the dollar index scaled June 2017 highs, following earlier data from China, the world's largest metals consumer, and the US. 

Ad of 01:18 GMT, platinum futures due in December rose 0.77% to $1,085.85 an ounce off two-week lows, while the dollar index climbed 0.15% to 97.16, marking 16-month highs. 

Earlier Chinese data showed the manufacturing PMI receded to 50.2 from 50.8, missing estimates of 50.6, while the services PMI receded to 53.9 from 54.9, also missing estimates of 54.7. 

Otherwise, earlier US data showed the private sector created 227 thousand new jobs in October, up from 218 thousand in September, and beating estimates of 188K. 

Labor unit costs rose 0.8% in the third quarter, up from 0.6% in the second, and besting estimates of 0.7%.