(Bloomberg) -- Platinum rose in Asia on speculation the price of the commodity will climb after analysts from UBS AG raised their forecast for the metal. Platinum futures in Tokyo also gained as the yen's decline spurred buying.
The price of platinum will rise to $1,350 an ounce in the next three months on expectations of increased investor demand, John Reade, head of metals strategy at the UBS Investment Bank unit in London, said in a report yesterday. The forecast was $50 higher than a previous estimate.
Read more at Bloomberg Commodities News
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