Saturday, December 31, 2011
Platinum: Fire Sale on the Rich Man's Gold
About 2000 years ago, Aristotle explained why gold remained the ideal choice of money throughout major nations and civilizations. In words that are just as relevant today, he said "Gold is durable, not like wheat, divisible, not like diamonds, convenient, not like lead, constant, not like real estate, and best of all, as jewelry, it has intrinsic value".
Among the most rare, valuable and sought after metals on Earth, platinum shares these same characteristics with gold. Platinum Guild International names platinum as the "most precious" of the precious metals based on its relative scarcity as well as for the following reasons:
(1) The annual supply of platinum is only about 6.4 million oz. - which is
equivalent to only 7.4% of the annual gold production and 0.87% of silver's
annual mine production.
Read report in full here