13.10.2011 - Platinum: A recession proof commodity
The recent global stock market sell-off has not spared the PGM markets. During the August-September period, from peak to trough, Gold fell 15% while platinum, the rarer precious metal, fell 22%. Year-to-date to 10 October, gold rose 18% while Platinum fell 14%. At $1,537 per troy ounce, platinum bought only 0.91 ounce of gold today, the lowest level since at least 1987, according to Blomberg. What has caused the different dynamics of platinum and gold? Platinum, unlike gold, has important commercial use with over 50% of demand coming from auto catalysts and 20% from jewellery demand..............................................Full Article: Source
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