Commodities and Commodity Currencies Crushed

Platinum and palladium fell in a sharp round of profit-taking, coinciding with the crazed assault on the Euro in the FX markets and corresponding "crashing" of commodity currencies.

Platinum dropped to a low of $1500 before reaching $1530 on the rebound.

As an aside, an interest in chemistry is essential to the commodity investor.

Platinum has the symbol Pt and its name derives from the Spanish phrase "platina del pinto" ("little Silver of the Pinto River"). Platinum is used in catalytic convertors (which reduce the toxicity of emissions from internal combustion engines e.g. evil nitrous oxides).