Gold Premium over Platinum Seen Rising to Record
Source: Bloomberg, Nicholas Larkin (9/23/11)
"Gold's premium to platinum, already the biggest in almost two decades, may surge to the highest on record in the next year."
Gold's premium to platinum, already the biggest in almost two decades, may surge to the highest on record in the next year because of investors' mounting concern about the global economy.
Gold cost 3.1% more than platinum in London yesterday, compared with an average discount of 39% over the past decade, data compiled by Bloomberg show. The metal may reach a premium of 26% in the third quarter of 2012, according to David Wilson of Societe Generale SA in London, the most accurate platinum, palladium and silver forecaster tracked by Bloomberg over two years. That would be the highest in data compiled by Bloomberg going back to 1987. . .View Full Article