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PRECIOUS-Platinum rally pauses after scaling 6-1/2-year high

    * Platinum can hit $1,400/oz if supply issues
persist-analyst
    * Benchmark U.S. yields at highest since March
    * Minutes of U.S. Fed's Jan meeting due on Wednesday

 (Adds comment, updates prices)
    By Sumita Layek
    Feb 16 (Reuters) - Platinum retreated from a near 6-1/2-year
high on Tuesday as prices hit a technical resistance, although
expectations that a rebound in the global economy would stoke
demand kept the autocatalyst metal supported above the $1,300 an
ounce level.
    Platinum       , used in catalytic converters for vehicles,
was up 0.7% at $1,312.34 an ounce by 0706 GMT, but off the
session high of $1,336.50, its best since September 2014.
    Prices hit a technical resistance near the $1,330 level,
said Stephen Innes, chief global market strategist at financial
services firm Axi said, adding that it was a temporary pause and
prices could continue to rise further.
    The market was also weighing the roll-out of Johnson &
Johnson's         COVID-19 vaccine in top producer South Africa,
he said.             
    Supply disruptions in South Africa, a recovery in auto sales
and stricter emission regulations will keep prices supported,
analysts have said.             
    "With China implementing Phase 6 standard for both gasoline
and diesel vehicles from January 2021, Platinum Group Metals
loadings will be strong," said Soni Kumari, a commodity
strategist with ANZ.
    However, she said, "a swift recovery in mine supply and
restart of Anglo (American Platinum)'s smelter to refine the
stockpile of unprocessed platinum could pause this rally..."
    If supplies take longer to return to normal levels, prices
could soon hit $1,400, she added.
    Palladium        climbed 0.4% to $2,396.72, having earlier
hit a one-month high of $2,424.26.
    Spot gold        rose 0.3% to $1,822.97 per ounce as the
dollar        eased against rivals.       
    U.S. gold futures        were steady at $1,822.60, while
silver        gained 0.3% to $27.66.
    Limiting bullion's gains, benchmark U.S. Treasury yields
rose to their highest levels since March.      
    "Provided the 10-year yields stay below 1.5%, markets are
still willing to ride the inflation narrative and that is quite
supportive for gold," Innes said.
    Minutes of the U.S. Federal Reserve's end-January monetary
policy meeting are due on Wednesday.

 (Reporting by Sumita Layek in Bengaluru; Editing by Devika
Syamnath and Subhranshu Sahu)
  
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