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Platinum Prices: Desperately Seeking a Bottom or Prepping for a Pop?
Oct. 06, 2011 02:30PM PST
Precious MetalsIBTimes reported platinum prices just finished plunging more than 22 percent from their late August level with no end in sight.
IBTimes reported platinum prices just finished plunging more than 22 percent from their late August level with no end in sight.
As quoted by the market news,
On Aug. 22 platinum’s spot price was $1,913.50; on Oct. 5 it was $1,479.50. Gold, meanwhile, had an Aug. 22 spot price of $1,908.89 and an Oct. 5 price of $1,642.50.
In other words, besides plunging $434 in the last six weeks platinum’s price went from a premium to gold’s price to being 86 percent of gold’s price.
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