Platinum higher than gold
Posted: Mon Mar 12, 2012 3:39 pmLooks like Platinum might pass Gold today. How long ago did they flip flop?
Page 1 of 1
Posted: Mon Mar 12, 2012 3:39 pmRe: Platinum higher than gold
Posted: Mon Mar 12, 2012 5:09 pmWhen GOLD peaked at $1911 I think. Usually, a bad contrary indicator.
Re: Platinum higher than gold
Posted: Tue Mar 13, 2012 12:54 pmIt has happened. So what does this mean? Do TPTB want it to be this way?
Re: Platinum higher than gold
Posted: Wed Mar 14, 2012 1:45 pmThis negative indicator has proven itself once again... 
Re: Platinum higher than gold
Posted: Wed Mar 14, 2012 7:22 pmIt should be....in my opinion!
I fully understand that platinum is an industrial metal and the price is driven more by industry that by the investment demand.
However it has never made sense to me that something so rare as platinum can be so close in price to Gold.
It take ten tons of ore to produce one ounce of platinum! I do not know if it is true or not but I have seen quoted several times: "All of the Platinum ever mined would fit in the average size living room."
Annually, only about 133 tons of Platinum are mined, compared to about 1,782 tons of Gold.
In contrast with Gold and Silver, there are no large above-ground Platinum Bullion stockpiles to protect against significant supply disruptions.
More than 90% of all Platinum supplies come from South Africa and Russia. Virtually all of the platinum mined in South Africa is committed to industrial contracts.
http://www.platinum.matthey.com/ is a super website that give you tons of insight looking at platinum and what is driver of the prices on a month to month basis.
I fully understand that platinum is an industrial metal and the price is driven more by industry that by the investment demand.
However it has never made sense to me that something so rare as platinum can be so close in price to Gold.
It take ten tons of ore to produce one ounce of platinum! I do not know if it is true or not but I have seen quoted several times: "All of the Platinum ever mined would fit in the average size living room."
Annually, only about 133 tons of Platinum are mined, compared to about 1,782 tons of Gold.
In contrast with Gold and Silver, there are no large above-ground Platinum Bullion stockpiles to protect against significant supply disruptions.
More than 90% of all Platinum supplies come from South Africa and Russia. Virtually all of the platinum mined in South Africa is committed to industrial contracts.
http://www.platinum.matthey.com/ is a super website that give you tons of insight looking at platinum and what is driver of the prices on a month to month basis.