It didn't happen today but it still looks likely shortly. Anybody want to trade gold for platinum oz for oz? I've got the Au and am looking for Pt.
platinum is an industrial metal ... when gold rallies it might lag ... yeah, it's not a question for me that gold is going to rally
Platinum has so much ground to make up in regards to its popularity when compared to gold/silver. Take for example how many cultures require gold for weddings.....this has been going on for thousands of years. Both gold and silver are mentioned several times in the book of Genesis, whereas platinum started to break out of its shell with the advent of record sales achieving "platinum status." (and We all know what the catalytic converter did for the metal) I`m well aware that all of the platinum mined today would not even fill the average living room, but I think it has a mountain to climb before the average Ma&Pa kettle would consider investing in it over gold/silver like they are slowly doing now. However if they do, We could see platinum skyrocket. (there`s just not much of it) It will be interesting to see if some of these companies start to promote other PMs like platinum and or palladium over gold/silver. Everytime I think about buying some platinum, I just can`t do it. Who knows? Maybe some of You on here that are bullish on platinum will do very well in the future......these days anything can happen regarding investments.
I think they meant it has not traditionally been coined with, or used as backing for currency. Russia used to strike platinum coins, but that was about it until bullion issues nowadays. I love platinum and think its a great PM to invest in if you believe the economy will pick up. BEsides industrial use, its used to a large extent in jewelry in Japan.
