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Platinum rises for fourth straight session, dollar off five-week high
Platinum prices tilted higher in Asian trade to June 10 highs as the dollar index backed off June 2 highs for the fifth session out of seven, as Covid 19 cases continue to surge in North and South America.
As of 05:44 GMT, platinum prices rose 0.43% to $843.40 an ounce, while the dollar index inched down 0.01% to 96.94.
The World Health Organization warned the rate of Covid 19 spread has increased recently, warning the peak hasn't been reached yet.
The WHO experts said the current gap between high new infections and slower death could be bridged in a few weeks, with the total death toll standing currently at 535,000.
As Covid cases spike in South America, Brazilian president Bolsonaro announced he tested positive for the virus after months of downplaying the issue.
USD/JPY gains ground for second session
USD/JPY tilted higher in Asian trade following earlier trade data and amid a lack thereof from the US, as Covid 19 cases continue to surge in North and South America.
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Silver futures rose Tuesday, despite the US dollar's slight rise against most currencies, but investors focused on the latest developments in the coronavirus crisis.
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The American Petroleum Institute (API) revealed today in preliminary data that the US crude inventories rose by about 2.048 million barrels during the past week, higher than expectations of a drop by 3.7 million barrels.
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