Just like gold and silver, platinum is considered a safe haven investment, but it’s a precious metal you might not be so familiar with. Mined primarily in Canada, Columbia, Peru, Russia and South Africa, platinum is the rarest of all precious metals. Annual production is just 10% of that of gold and its natural scarcity is compounded by a complex refinement process.
Thanks to its beautiful silver-blue colour, Platinum is a highly sought-after component in prestige jewellery and it has a wide variety of industrial uses including: electronics, chemical processing and medical and dental applications.
As it’s an essential component in devices designed to control vehicle emissions, platinum also plays an important role in the drive towards more environmentally friendly transport. Consequently, as the world aspires to go green, demand for platinum has soared, but prices have remind relatively low.
My small #mene PLATINUM collection
Relatively low prices for platinum can make it a commodity of choice for many investors. Buying an asset when the price is relatively low can serve as a good investment strategy, especially in the case of the assets with fundamental market support. Believing in step-by-step recovery for platinum’s price for the rest of 2020, I predict significant price growth in 2021 and beyond. It means that it may be a good time to diversify your portfolio with platinum before the price breaks out.
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Yes, today is one of the few times that Platinum is cheaper than Gold. Spot Price Gold is over double the price of Spot Platinium. About $1950 vs $915 or over 2.1x. Platinum is denser than Gold making it heavier. A US Platinum Eagle Coin ($100) appears to be the same size as a Gold Eagle ($50), except it is thinner. The $100 vs $50 denominations show how crazy it has gotten. And good luck finding any platinum coins at the Local coin Shop. More evidence of their rarity. Look for a hefty Premium. All my Platinum: One Grain (not Gram) or 1/480 Troy oz. Look hard to see the one grain Platinum Bar, in the center, of Credit Card Size. Stack it if you can find it.
I have a very small PT position. Was thinking about adding to it recently. With it less than half gold price, may be a good idea? Nice platinum charms you have.
Me too. I do think it has some legs and room to grow. I'm usually wrong though, so don't listen to anything I say. Lol
I remember buying platinum at $300 an ounce. To bad I sold it all at $550.
Might be time to buy back in. I know they say you should never base any decisions on past performances, but it has always (until recently historical speaking) been on par with gold.
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I completely forget about platinum all the time and now it is cheaper then gold. I had no idea what the price was and to see this kinda blows me away. I may have to look in to platinum down the road.