Posted AT 4:31 PM EDT on 09/05/08
Platinum sharply higher
LONDON — Platinum ended sharply higher Friday as the launch of U.S. platinum exchange-traded notes boosted sentiment, while gold also finished up on record crude oil prices.
Investment bank UBS launched two ETNs offering long and short trading strategies in platinum. ETNs, unlike exchange-traded funds, do not purchase physical platinum to back the number of shares sold.
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