Platinum skids to new low on Volkswagen scandal

London

PLATINUM, used in the production of catalytic converters, crashed last week to the lowest price in 6.5 years on the back of Volkswagen's pollution cheating scandal.

The precious metal, which also has been weakened in recent months by worries linked to the flagging global economy, plunged last Wednesday to US$926.35 per ounce - the lowest level since January 2009.