HOW ARE WE DOING?

Platinum tumbled to a six-year low and headed for the biggest drop in two years yesterday after the Asian Development Bank reduced its growth forecasts for China and said the country’s declining appetite for energy, metals and other raw materials would hurt commodity-focused export economies. The Bloomberg Commodity Index slipped 1.5%, with 20 of 22 components in the gauge declining. “The path of least resistance is down,” said RJO Futures’ Phil Streible. “Any fresh longs that went in last week are probably forced back in the sidelines.” Platinum futures for October delivery tumbled 3.7% to $937.30 an ounce at 10.38am yesterday on the New York Mercantile Exchange.