When platinum prices suddenly dropped, the selling panic was on.
The plunge in platinum prices showed little signs of easing during 1989.
In London, platinum prices rose more than $10 an ounce, to around $595.75.
While platinum prices rose with gold, many silver traders decided to take profits.
The platinum price is at a 26-year low relative to the dollar.
The drop in platinum prices provoked fears of a recession.
An explosive rally lifted platinum prices to a four-week high.
Last year, platinum prices fell from about $560 an ounce to about $500.
On the day of Ford's announcement, platinum prices plunged $71 per ounce.
Because of the fall in the platinum prices the mine has almost completely ceased productivity.
