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C.D. Hopkins Metals Division: Platinum price transcends gold price for first time since September
Platinum has always been in the same league as gold, but on March 13, the price of platinum rose above gold for the first time in six months.
Platinum spot prices were up to $1,698.20 per ounce on March 13, while gold settled at $1,695.50 per ounce.
“The price of platinum is traditionally in the same league as the price of gold,” said Chadwick Hopkins, president of C.D Hopkins Metals Division, a leading precious metals dealer and financing institution located in Los Angeles. “However, over the past year gold has performed higher than platinum, so this is a real turnaround.”
The precious metal retailer cites improved sentiment toward the eurozone as one factor for platinum’s ascension. Though the Greek debt risk seems to vacillate consistently, C.D Hopkins Metals Division believes the most immediate financial risks surrounding Greece have passed for the moment.
Platinum’s industrial demand is also driving the precious metal’s price, with automobile demand worldwide becoming increasingly significant.
Still, most investors maintain some caution on platinum. The sovereign debt crisis is far from over, which means there is inherent volatility when investing in any financial markets. While gold and platinum both have bullish outlooks for the year ahead, the platinum to gold ratio will likely struggle to remain above parity until the Greek crisis is more permanently resolved.
With both precious metals experiencing strong showings in the financial realm, C.D Hopkins Metals Division recommends investing in gold and platinum.
The gold and platinum retailer also helps investors purchase silver and palladium. When investors open accounts with C.D Hopkins Metals Division, they can purchase precious metals for immediate personal delivery or arrange for convenient storage at an independent bank or depository.
For more information about purchasing the rare precious metal platinum, visit http://www.cdhopkinsmetals.com/
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About C.D Hopkins Metals Division
C.D Hopkins Metals Division is a leading precious metals dealer and financing institution located in Los Angeles, Calif., specializing in gold, silver, platinum and palladium. With a C.D Hopkins Metals Division account, you can purchase precious metals for immediate personal delivery or arrange for convenient storage at an independent bank or depository. C.D Hopkins offers options for financing and selling your precious metals and expert account representatives to fulfill your investing needs. To find out how to open an account, visit http://www.cdhopkinsmetals.com/