Platinum hits 8-month peak, palladium highest since Aug 2011

Johannesburg-S.A. (May 22)   Platinum prices hit 8-month highs and palladium was at its strongest since August 2011 after the chief executive of mining company Impala Platinum said a four-month strike among South African miners could last much longer.

Spot platinum was up 1.9 percent at $1,493.60 an ounce at 1233 GMT, while spot palladium was up 1.2 percent at $825.55 an ounce, having peaked at $837.10.

Feedback from day one of court-mediated talks with the world's largest platinum producers and South Africa's main mining union was lukewarm, the chief executive of Impala Platinum said.