Pan American Metals of Miami says Increased Industrial Demand is Narrowing the Gap Between Platinum and Gold

Top Quote Platinum is showing signs of catching up with gold, retrieving its 'normal' position. End Quote
  • (1888PressRelease) February 02, 2012 - MIAMI, FL - For some months now, we have seen gold trading at a premium to platinum, a reversal of the 'normal' situation. While gold is still firmly ahead of the white metal, the gap does appear to be closing. Increased demand from the automotive industry is helping platinum to catch up with gold, even though there is still a great deal of ground to be made up. Platinum is used in the manufacture of catalytic converters; as such there is increased demand for the metal when industrial demand is healthy. In December 2011, platinum lingered around $200 below gold, a situation that is historically anomalous. As the rarer metal of the two, platinum has traditionally been the more expensive and highly valued.

    A general feeling of optimism, which has epitomized the beginning of 2012, has led to an increase in the price of most commodities, including the precious metals, and platinum has benefited from this, seeing greater confidence in industry and renewed investor confidence also. In fact, platinum has been one of the best-performing metals during January, gaining around 14%.

    "The current situation, with platinum trading at a discount to gold, is historically unusual," says Bill Hionas, of Pan American Metals of Miami, a South Florida precious metals company. "It may not catch up with gold in the immediate future but I think we may see platinum start to close the gap even more as the year goes on. Platinum has made a very strong start to the year."

    Investors interested in taking a position in platinum can contact Pan American Metals of Miami for further information.

    About us:

    Pan American Metals of Miami, LLC is a group of account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.


    Press Contact

    Debbie Bailey
    Executive Administrator
    Pan American Metals of Miami, LLC
    Email: dbailey ( @ ) investpanam dot com

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