Gold Vs Platinum: Which Is A Better Investment?

Another aspect to consider is that only two countries – South Africa and Russia – produce platinum. What happens in these two countries will have an impact on platinum prices worldwide. When South African mines faced power delivery problems, platinum prices skyrocketed to $2,252 per ounce in March 2008. By November 2008, it had tumbled to $774. Turbulence in the auto industry could also affect platinum prices.

We haven’t seen such erratic swings in gold prices. Dozens of countries including China, the US, Australia, India, Canada, and others produce the yellow metal. A supply issue in one country is unlikely to have a huge impact on prices worldwide. Despite the gold vs platinum debate, the former remains the preferred store of value. But the yellow metal logged an 18.9% return in 2019. Given its relative valuations, investors can look at alternative precious metals like platinum.

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