Analysts Favoring Platinum Over Gold

Bloomberg reported that as a result of record car sales and mining strikes, many analysts believe that platinum is a better investment than gold. As the year progresses, the metal’s premium to gold, which is currently at 8.5 percent, is expected to increase to 19 percent.

As quoted in the market news:

Platinum prices that were lower than gold in April, when bullion entered a bear market, cost 11 percent more on July 15, the most in almost two years. The current 8.5 percent premium will expand to an average 19 percent in the fourth quarter, according to estimates from the five most-accurate precious metals analysts tracked by Bloomberg over the past two years. Investors own a near-record amount in platinum exchange-traded products as gold holdings slumped to a three-year low.

Click here to read the full Bloomberg report.