Key Tokyo platinum futures hit 300 yen limit-up
SINGAPORE ( May 9) The most active Tokyo platinum contract jumped by the
daily 300 yen limit on Friday, tracking a firm cash market ahead of the
launch of new platinum exchange-traded notes.
The benchmark contract for April 2009 delivery <0#JPL:> on the Tokyo
Commodity Exchange rallied to 6,703 yen per gram -- but still below a
record of 7,427 yen hit on March 6.
Spot platinum rose as high as $2,078.50 ounce, its highest since March 17,
up from $2,008.50/2,028.50 late in New York on Thursday.
The two ETNs -- UBS E-Tracs Long Platinum ETN and UBS E-Tracs Short Platinum ETN PTD.P
-- will start trading soon on the NYSE Arca platform, according to CNBC
television and NYSE Euronext exchange data.
