Platinum Nearly Catches Up to Gold

Kitco reported platinum has erased most its early-year discount to gold prices as South African supply issues and improvement in U.S. auto sales underpin the platinum group metals.

As quoted in the market news:

Analysts look for the ratio between the two metals to at least level off in the coming months, with several citing an expectation for gains in both gold and platinum, although some add that platinum eventually likely will eventually regain its usual premium.

Platinum historically has traded higher than gold, but that reversed dramatically in the final months of 2011. At one time, gold was roughly $219 an ounce more expensive than platinum.

Click here to read the full Kitco report.