Tuesday, March 13, 2012

Platinum Is Now Higher Than Gold Again

Platinum usually is priced higher than gold, so it should be no surprise that it today it has re-established itself as more expensive than gold ($1698 / oz for Pt, $1678 / oz for Au as I write).

Some of my friends at pmbug.com (a highly recommended forum for precious metals fans) told me today that a lot of this is due to strikes down at some of the platinum mines in South Africa (the world's largest producer).

Also, gold plunged on the news that the Fed's "Stress Test" of the banks all went OK (except for four banks, one of them being Citi), so they must have sounded the horn that all is well in the world, and that nobody wants gold anymore...  But, it again was pointed out that the gold price is "paper gold"...

Will platinum always be higher than gold?  FOFOA says no:


He writes in great detail, so be prepared to spend a lot of time to understand his logic.


As many of you know, we will be going to Peru tomorrow (Wednesday) for about 11 days.  I hope to take pictures and do a blog article from there.

I once again thank all of you, my readers!

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