Platinum, used mostly for jewelry and catalytic converters for vehicles, has a unique ability to react with hydrogen, making it an efficient catalyst for fuel cells. Anglo American Platinum (Amplats) and Canada’s Ballard Power Systems Inc. are now testing the process to see if it can be used to light up an isolated village, Bloomberg News reported.
The test in South Africa, the world’s biggest platinum producer, may lead to wider use of fuel cells as a source of power in developing regions. More than 1.3 billion people worldwide live without electricity, and almost half are in sub-Saharan Africa, according to the International Energy Agency.
On Thursday, November 20, the day’s biggest mover was Indian silver, which saw a 1.5% increase to INR 37,186 ($599.61) per kilogram. Japanese silver saw its price rise 1.3% to JPY 606.00 ($5.13) per 10 grams. The price of Chinese silver fell 0.7% to CNY 3,465 ($566.24) per kilogram. After a 0.7% increase, US silver finished the day at $16.30 per ounce.
The price of US gold bullion closed at $1,183 per ounce. Following a couple days of improvement, prices fell by 1.2%. Japanese gold bullion saw its price rise 1.1% to JPY 4,501 ($38.09) per gram. Following two days of rising prices, the price of Chinese gold bullion dropped 0.8% to CNY 233.05 ($38.08) per gram. Indian gold bullion prices saw a 0.1% decline to INR 26,775 ($431.74) per 10 grams.
Chinese platinum bar finished the day down 0.8% to CNY 250.00 ($40.85) per gram. Japanese platinum bar prices inched up 0.6% to JPY 4,530 ($38.34) per gram. The price of US platinum bar showed little movement yesterday at $1,203 per ounce.
After improving for two days, the price of US palladium bar declined 1.3% to $761.00 per ounce. Chinese palladium bar ended the day at CNY 168.00 ($27.45) per gram, after the 0.6% drop on Thursday. The price of Japanese palladium bar held steady at JPY 2,860 ($24.20) per gram.