Platinum Breaks $1,500 Level as Global Auto Sales Accelerate

Platinum prices break above $1,500 an ounce as automakers in the United States, Europe and Japan continue to post better-than-forecast sales. ETF Securities U.S. research director Mike McGlone tells TheStreet's Joe Deaux that car sales have added major support to rising platinum prices. McGlone says gold prices may remain muted headed into the Independence Day holiday weekend. Investors looking for value in precious metals should take note that platinum and silver have found gains, while gold also continues to move higher, despite good economic data coming from the United States.