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Platinum Lease Rate Jumps Again - Now Above 24%
The lease rate for platinum continues to rise quickly. Two trading days after the prior post on platinum’s lease rate at 21.5% for a 1-month lease, the lease rate is now 24.5% for the 1-month tenor and above 20% for the 2-month and 3-month terms as well. The lease rate is important as it tells us the cost for bullion banks to get ahold of real metal when they’ve sold bars in the London market as paper promissory notes for metal and face a demand for delivery. In a world of unlimited paper promises for metal delivery subduing precious metals prices in London, the lease rate is a very important signal of market ... (full story)