Platinum higher than gold
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Platinum higher than gold
by slickeast » Mon Mar 12, 2012 3:39 pm
Looks like Platinum might pass Gold today. How long ago did they flip flop?
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Re: Platinum higher than gold
by Country » Mon Mar 12, 2012 5:09 pm
When GOLD peaked at $1911 I think. Usually, a bad contrary indicator. 
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Re: Platinum higher than gold
by slickeast » Tue Mar 13, 2012 12:54 pm
It has happened. So what does this mean? Do TPTB want it to be this way?
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Re: Platinum higher than gold
by Country » Wed Mar 14, 2012 1:45 pm
This negative indicator has proven itself once again... 
Humankind has not woven the web of life. We are but one thread within it. Whatever we do to the web, we do to ourselves. All things are bound together. All things connect. ~Chief Seattle, 1855
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Re: Platinum higher than gold
by Copper Catcher » Wed Mar 14, 2012 7:22 pm
It 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.
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Copper Catcher - Too Busy Posting to Hoard Anything Else
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