Japanese PM Abe says North Korean missile launch a grave threat to Japan
LONDON, April 29 North Korea's decision to test-fire a ballistic missile represents a grave threat to Japan, Prime Minister Shinzo Abe said in London on Saturday.
* Impala won't budge on offer as S.Africa strike continues * Expected Russian supply woes, demand boost palladium * US bond manager PIMCO bullish on gold * Coming up: US federal budget Wednesday (Updates market activities) By Frank Tang and Clara Denina NEW YORK/LONDON, June 10 Palladium jumped to its highest in nearly 3-1/2 years on Tuesday, while platinum also rallied after talks to resolve a five-month strike in top producer South Africa collapsed. Impala Platinum, the world's second-largest platinum producer, said on Tuesday that it had "exhausted all its financial means" in its wage offer. Wage settlement talks between South Africa's main mine workers' union and major platinum producers broke down on Monday, dashing hopes for an end to a crippling five-month strike. Palladium, of which South Africa is the second-biggest producer, hit its highest level since February 2011 at $854 an ounce. It was last up 1.7 percent at $852.18 as of 4:10 p.m. EDT (2010 GMT). "For palladium, it is ... the possibility of a shortfall in supply from number one producer Russia and strong demand from the physical side on the back of higher car sales and also investor demand," Commerzbank analyst Eugen Weinberg said. Platinum rose 2.2 percent to $1,475.75 an ounce after hitting its highest since May 26 at $1,481.50.00. The strike has halted production at mines that normally account for about 40 percent of global platinum output. GOLD RISES TOO Spot gold rose 0.7 percent to $1,260.30 an ounce. U.S. COMEX gold futures for August delivery settled up $6.20 at $1,260.10. "You have the stock market at an all-time high. Investors are going to have to find a place to diversify their money and the precious metals are very under-owned," said COMEX gold options floor trader Jonathan Jossen. U.S. bond manager PIMCO said on Tuesday that gold should benefit from rising inflation and lower real interest rates. "We find gold attractive at current valuations," Mihir Worah, PIMCO's deputy chief investment officer said in a note. Silver rose 0.8 percent to $19.17 an ounce. 4:10 PM EDT LAST/ NET PCT LOW HIGH CURRENT SETTLE CHNG CHNG VOL US Gold AUG 1260.10 6.20 0.5 1250.10 1263.80 99,963 US Silver SEP 19.210 0.102 0.5 19.015 19.275 11,813 US Plat JUL 1482.20 27.90 1.9 1451.40 1485.80 15,183 US Pall SEP 854.55 12.95 1.5 841.05 855.75 5,780 Gold 1260.30 8.72 0.7 1250.76 1263.00 Silver 19.170 0.150 0.8 19.010 19.230 Platinum 1475.75 31.85 2.2 1451.60 1481.50 Palladium 852.18 14.28 1.7 842.80 854.00 TOTAL MARKET VOLUME 30-D ATM VOLATILITY CURRENT 30D AVG 250D AVG CURRENT CHG US Gold 120,942 160,805 165,454 12.91 -0.23 US Silver 54,281 43,249 55,154 17.34 -0.32 US Platinum 17,374 13,000 12,307 17.87 1.15 US Palladium 5,853 8,885 5,825 18.69 0.42 (Additional reporting by A. Ananthalakshmi in Singapore; editing by Jason Neely and Pravin Char; Editing by Diane Craft and Andre Grenon)
BERLIN, April 29 Online fashion retailer Zalando is pondering opening stores in major cities such as London, Paris or Berlin, the company's co-chief executive told Germany's Manager Magazin.