SINGAPORE, Oct 6 (Reuters) - Platinum slipped 3 percent on
Monday to its weakest in almost three years, nearing $900 an
ounce, on economic weakness and dismal car sales, which
threatened to slash demand for auto catalysts.
Platinum XPT= was trading at $922.50 an ounce, down
$27.50, having hit a low of $920 an ounce -- its weakest since
November 2005.
Major automakers reported plunging U.S. sales for
September, led by a 34 percent slide at Ford Motor Co, as the
escalating credit crisis hit the industry and raised new doubts
about when the world's auto market would stabilise.
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More than 60 percent of global use in platinum goes to
autocatalysts. Platinum is also used in jewellery.
(Reporting by Lewa Pardomuan; Editing by Kim Coghill)
