July 29, 2011, 12:01 a.m. EDT
Platinum’s a precious metal, too
Metal isn’t as popular as gold, but deserves a second look
By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) — Move over gold and silver — it’s time for platinum to start getting the attention it deserves as a precious metal.
Year to date, gold prices have scored a climb of 14% and silver’s gained 29%. Platinum prices, however, trade just 1% higher, so while gold and silver have proven their worth as stores of value in these uncertain economic times, platinum has been left in the dust.
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But “all three metals have a history of money,” said Nick Barisheff, president and chief executive officer of Bullion Management Group Inc. “While gold and silver have been used as money for thousands of years, platinum too has served as an economic store of value for over 300 years.”
Platinum is also worth more than gold and it’s tougher to produce.
At $1,792 an ounce, platinum is worth nearly $200 more than gold at $1,616 an ounce and it costs 45 times more than silver at $40.
Full article: http://www.marketwatch.com/story/platinums-a-precious-metal-too-2011-07-29
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