Gold now costs more than Platinum.
In London yesterday, about 3.1% more.
- Compare that to the past decade's average price of Platinum being 39% higher than Gold.
By 3Q of 2012 this 3.1% premium may be closer to 26%.
The LBMA (London Bullion Market Association) is looking at an average price for Gold of $2,350 compared to an average price for Platinum of $1,860 for late 2012.
Either way you slice it, it is going to take far greater amounts of Benny-bucks to buy the same ounce of Gold or Platinum...or Silver which by all accounts is much scarcer in physical form that Gold, with Supply-Demand indicating it will outperform Gold handily.
- There appears to be a global 'scramble' for physical Silver as well as a looming delivery problem on the COMEX whose vaults are almost empty of the stuff.
Theo:
ReplyDeleteHarvey Organ has a great nightly summary of the metals where he lays out the amount of physical, etc. and comments on things such as the CME/COMEX manipulations of PM's. VERY GOOD stuff that also covers the macro picture. You can find his site here: http://harveyorgan.blogspot.com/
So if gold is going up relative to the dollar because of dollar inflation, is it going up relative to platinum because of platinum inflation? Or does this prove that gold is a bubble?
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