Disappointing global economic data has put downward pressure on many assets

Disappointing global economic data has put downward pressure on many assets across the financial landscape this morning. Reports out of China showed that the world’s #2 economy continues to suffer from a contracting manufacturing sector and the wave of disappointment continued into Europe with the regions PMI hitting lows not seen in quite some time.  Platinum reached as low as $1596 and is now trading at $1617 as bargain hunting provides some downside resistance…we’re off nearly $100 from just a few days ago! Palladium is down roughly 2% on the trading session and currently trading at $660. Much of the recent correction can be attributed to the agreement between Lonmin  and its miners at the Marikana operation and the hope for improving circumstances in South Africa. However, recent protests just outside Anglo Platinum’s Rustenburg operation have resulted in 2 more fatalities and is a reminder that the unrest persists. Have a great day!