for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

PRECIOUS-Platinum rallies for third day on economic rebound hopes

    Feb 16 (Reuters) - Platinum prices rallied for a third
straight session on Tuesday, hitting a near six-and-a-half-year
peak on hopes that a swift global economic rebound would boost
demand for the auto-catalyst metal.
    
    FUNDAMENTALS
    * Platinum        rose 1% to $1,315.32 by 0102 GMT, after
hitting its highest since September 2014 at $1,320.50.
    * The metal is used by automakers for catalytic converter
manufacturing to clean car exhaust fumes.
    * Platinum may see a third consecutive annual deficit in
2021 amid supply concerns from South Africa, the world's largest
platinum producer.             
    * South African miner Sibanye-Stillwater          on Monday
reported a 40% increase in 4E Platinum Group Metals (PGM)
mineral reserves at its SA PGM operations.             
    * Palladium       , also used in the auto sector, climbed
0.3% to $2,394.57, having hit a one-month peak of $2,415.68 in
the previous session.
    * Spot gold        edged up 0.1% to $1,820.71 per ounce.
U.S. gold futures        slipped 0.1% to $1,822.10, while silver
       gained 0.2% to $27.63.
    * The dollar        eased against rivals, making gold more
affordable.       
    * Benchmark U.S. Treasury yields rose to their highest
levels since March.      
    * Global shares held firm on Tuesday, looking to extend
their bull run to a 12th consecutive session as optimism about
the global economic recovery and expectations of low interest
rates drive investments into riskier assets.            
    * Market participants now await minutes of the Federal
Reserve's end-January monetary policy meeting on Wednesday.
    * The euro zone is likely to decide between March and May
when and how governments would start tapering support to their
economies as vaccinations allow the lifting of pandemic
lockdowns and economic activity picks up, officials said on
Monday.             
    * The World Health Organization on Monday listed AstraZeneca
        and Oxford University's COVID-19 vaccine for emergency
use, widening access to the relatively inexpensive shot in the
developing world.             

 (Reporting by Sumita Layek in Bengaluru; Editing by Devika
Syamnath)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up