- Platinum prices slide to six-and-a-half-year lows on the London spot market, as the Volkswagen emissions scandal sparks concerns over European demand for diesel cars.
- Platinum is used to make autocatalytic converters in diesel engine cars, and the scandal has led investors to rush to jettison some of their holdings.
- "The growth story, if there was a growth story for diesel cars in the U.S., is dead for now, which is something that takes away some potential upside for platinum demand," says Julius Baer analyst Carsten Menke.
- ETFs: PPLT, PTM, PGM