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Platinum Trades at Cheapest in Two Years Relative to Gold
Jun. 02, 2015 09:28AM PST
Precious Metals InvestingMineweb reported that Platinum is trading at the cheapest since 2013 relative to gold due to the bleak demand global outlook for Platinum.
Mineweb reported that Platinum is trading at the cheapest since 2013 relative to gold due to the bleak demand global outlook for Platinum.
As quoted in the market news,
Platinum is mostly used for automotive catalytic converters, which account for more than 50 percent of usage, according to Johnson Matthey Plc. Gold is held mainly by investors and used in jewelry, with industrial consumption limited to about 10 percent of demand. The ratio between the metals in the spot market dropped on Monday to about 0.93, the lowest since January 2013.