Thu, 15 March 2012
Barry Stuppler, veteran precious metals investor and dealer said back in October that Platinum was a screaming buy. For good reason. Platinum's price had dipped below the price of gold, for only the fourth time in the post WWII era. Of course the Platinum market is extremely small compared to others, but it is an extremely important industrial metal that also has some investment attributes. Sure enough, Platinum closed out the year at around $1400 and in no time at all has surpassed gold. Platinum has been the best performing metal so far this year. Today, Thursday, 3/15/2012 it's at $1674 per ounce.
There's a number of factors adding to Platinum's rise. Labor unrest in South Africa (the largest producer), increased auto sales, jewelry demand in Japan, and the Canadian Mint's reintroduction of Platinum Maple Leafs. If these factors continue in force, we could see record increases in Platinum prices and for that reason Barry believes it has a golden future.
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