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Why Investors Should be Looking to Platinum in 2012

Why Investors Should be Looking to Platinum in 2012

Gold has always been viewed as one of the safest investments. It is less susceptible to politics and economic change than currency, and rarely looses value. However there is another rare metal that is considered an even better investment; Platinum.

Platinum Guild International names platinum as the "most precious" of the precious metals for several reasons:

- It is extremely difficult to mine and extract. 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.
- It has many more uses than gold, in fact more than 50% of the annual production of platinum is consumed by industrial uses, with 40% alone go to catalytic converters.
- Unlike gold, there are no large stockpiles of platinum (less than four million oz.). Therefore, any disruption in supply from the two major sources (South Africa at 80%, Russia at 10%) could propel platinum on a similar trajectory palladium experienced in 2001, when it moved sharply from $350/oz. to $1,100/oz.

Since 1970, platinum has on average commanded a 30% premium over gold, and this could be set to increase due to economic growth in China. China has already eclipsed the United States as the largest consumer of cars and is projected by the IMF to be the world’s largest economy by 2016, which will bring a continued increase in both automobile and luxury jewellery purchases.

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