Is Platinum becoming Man's Best Friend?
Bangalore: Platinum sure isn't as famous as gold and silver when it comes to investing. Platinum has a much shorter history as Indian people are mostly fascinated to gold and silver but as the economy is on complete reform some savvy investing pros are suggesting that under the right conditions platinum may prove to be fruitful and pay some price payback as reported by Reuters.
Platinum Vs Gold
Four main reasons can be considered for platinum being double the price of gold few years back.
1. Platinum is almost twice heavier than gold.
2. Most of the gold jewelries are 58.5 percent pure while platinum is 95 percent pure.
3. Platinum is more expensive per karat that gold.
4. The labor cost is high as platinum is much more difficult to work with.
All these reasons make platinum much more costly than gold but according to financial experts probably platinum rates will squat for the next few months till economic recovery is back on track. This brings a fantastic opportunity for the smart investor to jump on the investment faddism.
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