Platinum closes the gap on gold. Largest platinum mine in the world fires 13,000 striking staff. Platinum production on the way down http://sgtreport.com/2012/02/platinum-price-gaining-ground-relative-to-gold/
Meant this post - http://forums.silverstackers.com/message-213386.html#p213386 Scrolling on the iPad and next thing a random post was thanked. Interesting to note though Pt didn't tank 5% overnight
Agreed and soon it will move higher than gold as it reasserts its true position as has been the case over much of recent history. The purists may argue that Pt is not a monitory metal but it is a very rare and precious metal and has a dwindling production. Unlike some single minded members I dont knock Au or Ag - they have their place and I collect them as most of you do, but Pt will have its day in the sun !!!!
Vince Lanci from Kitco is super bullish on PM esp Platinum - watch the last few minutes of the interview. http://www.youtube.com/watch?feature=player_embedded&v=Yi1PO4KCO3Y
Since platinum fell below gold I've been ashamed to use my American Express Platinum Card in public. Maybe next week, you watch, I'll be back on top again.
Platinum chart...bottoming...maybe. Platinum continues its downward trend. The metal reached a seven-month low last week, scraping $1,367.50 an ounce, as it continued its struggle against a rising dollar and a global surplus that is hampering its value. It's down from a year-long high of roughly $1,510 an ounce seen in July. http://www.metal.com/newscontent/64766_platinum-price-continues-downward-trend http://www.kitco.com/
Platinum spot trends are also influenced by political instability in South Africa. Here's the reason in 1 concise chart.
As you know South Africa is the epitome of economic stability Its a safe bet Please don't forget Australia's annual production of 100,000oz or just over 3000kg (50cm cube). That deserves a little blue line on the chart ? A block of Pt 1m cubed is over 21,000 kg
Mmm Platinum Platypus http://www.perthmintbullion.com/au/Our-Bullion-Products/platinum-bullion-coin.aspx
Like sands through the hour glass so are the days of our lives. Likewise in a horribly predetermined way platinum could be carving out a pattern that is not so much synchronous but an echo.. palladium platinum