Platinum prices, which have been hammered by the Volkswagen VOW, +0.00% VOW3, +0.58% VLKAY, +0.22% scandal, were tipping higher but still hovering around six-year lows. The German car maker’s woes with diesel-powered cars have hit the precious metal used in catalytic converters.In a Thursday research note, analysts at Macquarie Capital said they expect VW’s problems to put “further pressure on platinum,” and cut their fourth-quarter forecast for the precious metal by 2.5% to $975 an ounce. October platinum PLV5, -0.43% gained $23.40, or 2.5%, to $955.80 an ounce Thursday.
December palladium PAZ5, -0.42% which is used more often in gasoline-fueled cars, settled up $10.75, or 1.7%, at $656.45 an ounce after a 5.7% jump on Wednesday.
In other metals, December high-grade copper HGZ5, +0.28% ended less than a cent higher at $2.303 a pound.
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