Platinum prices to find support from labor issues and increased car sales.
(1888PressRelease) February 03, 2012 - MIAMI, FL - Labor issues in South Africa are likely to be supportive of platinum in the short term. Impala Platinum fired over 17,000 workers recently over an illegal strike. It is now offering workers the opportunity to reapply for their jobs but the process will take time and clearly supplies will be affected in the meanwhile. South Africa is the world's largest producer of platinum; sources of platinum ore are extremely rare.
Platinum is also likely to find support from US car sales. An increase in demand for new cars, envisaged during 2012, should serve to boost sales of the platinum group metals, which are used in the manufacture of catalytic converters. The average age of cars on the road in the US is 10.8 years, probably due to the fact that consumers avoided replacing aging automobiles during the recession. Clearly, many of these cars will need to be replaced in the near future and strong US car sales will further support platinum prices during 2012.
"We can expect to see an increase in demand for platinum from the auto industry, which, balanced by problems with supply, should boost the price," says Bill Hionas of Pan American Metals of Miami, a South Florida precious metals company dealing in platinum, palladium, gold and silver bullion. "Another factor to consider is the fact that platinum is still undervalued, trading at a discount to gold; this situation is anomalous and is not likely to last for too long."
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Pan American Metals of Miami, LLC is a group of account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.panamericanmetalsofmiami.com
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Debbie Bailey
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Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Platinum prices to find support from labor issues and increased car sales. 
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