RTRS: Platinum hits 16-month high on weak dlr, ETF talk
LONDON, Jan 4 (Reuters) - Platinum prices rallied to a 16-month high in Europe on Monday as weakness in the dollar fuelled buying of precious metals.
Fellow platinum group metal palladium earlier reached its highest since July 2008. Interest in the white metals has been stoked by expectations new platinum- and palladium-backed exchange traded funds will shortly be launched in the United States.
Spot platinum hit a high of $1,507 and was bid at $1,506 an ounce at 1427 GMT, against $1,465.50 late in New York on Friday. (Reporting by Jan Harvey; Editing by Anthony Barker)
