To begin with let's look at a few facts about platinum.

• The annual supply of platinum is only about 130 tons.
• It takes 10 tons of ore to produce one ounce of pure platinum.
• All of the platinum ever mined throughout history would fill less than 25 cubic feet.
• Platinum is 11% denser than gold and weighs more than gold. One cubic foot weighs 1,330 pounds.
• Relative to gold and silver, platinum has many more industrial uses.
• More than 50% of platinum is destroyed through industrial use.
• Unlike gold, there are no large above ground inventories of platinum.
• South Africa produces 80% of the world's platinum.

Since its recent low, platinum has had a good run rising from $761.50 on October 27, 2008, to Thursday's close of $1,062.00 per ounce. Like gold, platinum buyers are looking for a safe haven investment. Very often platinum follows gold for this reason.

Continue reading Are you bullish or bearish on platinum?

Are you bullish or bearish on platinum? originally appeared on BloggingStocks on Fri, 20 Feb 2009 13:00:00 EST. Please see our terms for use of feeds.

This is not only a US phenomenon. Other countries' mints are reporting strong sales. John Reade of UBS reported large purchases of coins, seen as a safe haven investment.

Continue reading Gold bullion sales hit record

Gold bullion sales hit record originally appeared on BloggingStocks on Tue, 17 Feb 2009 13:50:00 EST. Please see our terms for use of feeds.