Tragedy struck outside Lonmin’s Marikana mine

Platinum is up more than $50 since yesterday’s open as tragedy struck outside Lonmin’s Marikana mine. It’s unclear who fired first but the violent clash resulted in more than 30 people killed and more than 70 wounded as police confronted warring factions of South Africa’s mining unions in an attempt to disperse the crowd. Miners at Lonmin, the world’s third-largest platinum producer, have been on strike since August 10^th in a wage dispute where workers are demanding $1500 a month in pay, more than double the current wage. Market activity elsewhere in the financial landscape remains muted as we head into the end of a slow trading week. The barrage of mixed economic data has investors on the risk-on/risk-off seesaw but the data hasn’t been enough to push markets significantly in either direction. Have a great day!