Useless Gold Overtakes Platinum
By Adrian Ash, BullionVault
It's more than "interesting" that platinum prices are lagging gold...
GOLD has risen nicely since the meltdown following Lehmans' collapse, with the gold price in Dollars rising 130%. Until last summer, however, platinum had done better still.
Indeed, a trader "could have made a lot of money buying platinum and selling gold since Lehman Brothers," as Philip Klapwijk, executive chairman of GFMS said Wednesday, taking analyst questions after launching the precious-metals consultancy's new Gold Survey 2012 at Thomson Reuters' HQ in London.
Over the 34 months to August 2011, the white metal rose 150%, recovering faster at first even than the gold price. But it needed to, however, after dropped two-thirds of its Dollar price between March and December 2008.