Platinum has rarely been so cheap compared to gold

Platinum has rarely been as cheap relative to gold as it is right now. Figures from Reuters show that the price of a troy ounce of gold is currently $387 higher than the price of a troy ounce of platinum, while that price difference has averaged $151 over the past thirty years. The platinum price is under pressure due to declining demand for diesel cars, which contain catalytic converters that make use of the precious metal.

The platinum price was historically close to the gold price and was even considerably more expensive at the beginning of this century. Just before the outbreak of the financial crisis and the fall in the price of oil, the price of the precious metal reached a peak of $2,290 per troy ounce, while gold was trading for just over half at that time. After a significant correction, the prices of both metals went back into the same way, but in the last three years the yellow metal has performed significantly better.

Investing in platinum

Platinum is primarily an industrial metal, but due to its speculative nature, it is also sold as an investment object, namely in the form of Platinum Bars and coins. These are traded under the same VAT rate as silver bars and silver coins. If you want to invest in platinum, you can also use Hollandgold Buy platinum in combination with storage in Switzerland. There, the precious metal is not taxed with VAT, which means you get much more bang for your buck.

Platinum rarely so cheap compared to gold (Source: Reuters)