Platinum Outshines Gold, Silver?
June 04, 2008Over five years, the whitemetal has soared 214 per cent to $2,018 (U.S.) an ounce yesterday - a priceset by the London Platinum & Palladium Market. The price hit a record of$2,273 an ounce in early March.
"Platinum is kind of aforgotten metal," says Nick Barisheff, president of Toronto-based BullionManagement Group Inc., which runs BMG Bullion, a mutual fund investing equallyin gold, silver and platinum.
"But platinum has goneup 31 per cent this year, while silver is up 13 per cent and gold up 5 percent," Mr. Barisheff said. "My fund is up 15 per cent year to date inU.S. dollars, and it is largely because of platinum."