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Zacks.com reported with platinum nearing gold reducing the parity between them now is the time to invest in ETFs.
Zacks.com reported with platinum nearing gold reducing the parity between them now is the time to invest in ETFs.
As quoted in the market news:
Platinum is often called “rich man’s gold” and “most precious of the precious metals”, due to its rarity and thus historically, it has commanded a price premium over gold. Precious metals are usually considered safe haven assets and inflation hedge but the precious metals from the platinum group also have important industrial applications and hence their price is determined more by economic trends than by their safe haven status. At the height of the global financial crisis, platinum prices fell from a high of $2,276 per ounce in March 2008 to $898 per ounce in December 2008.