A platinum ETF is up 17% the past month following deadly labor-related violence and strikes at mines in South Africa.
Labor unrest and mine shutdowns have led to supply fears.
“Labor strife in South Africa is set to boost platinum prices for months to come, with a once oversupplied market likely becoming tighter by year end,” MarketWatch’s Claudia Assis reports.
ETFS Physical Platinum Shares (NYSEArca: PPLT) holds more than 546,000 ounces of the metal, the most since the ETF launched in January 2010, according to a SeekingAlpha post Monday by Richard Bloch.
In August, 34 striking platinum miners were killed in a confrontation with police. [Platinum ETFs Gather Inflows on Mine Shutdown]