Is Platinum better than Gold

[future]

Many experts are saying that platinum will up again but why did the price drop???and which one is better gold or platinum???

 

[Paulitician]

It's more scarce. I would speculate it would be a better than gold. But the two metals have very different uses.

 

[lodge939]

The auto industry won't be doing well though in the coming years. However, that could be offset by an Asian boom?

 

[Ozwest]

Platinum is way under-priced, as is silver, because their worth is somewhat tied to industry.

Gold has eons of history.

 

[Ceos]

You also have to remember that Russia has a ton of Platinum mines, and refuse to disclose the ammount of platinum they have; so I dunno how stable Platinum truly is.

 

[noxagol]

Platinum is mainly used as a catalyst material, mainly in catalytic converters in cars. In the US, the auto industry is going to start tanking bad in the coming years but it could explode in China especially as they start to make their own cars which I think they are getting ready to do.

 

[theoakman]

Many experts are saying that platinum will up again but why did the price drop???and which one is better gold or platinum???

depends on the price. Platinum is inherently more valuable than gold. It's more rare and has more industrial applications. Now that the price is similar to that of gold, it's a good buy. Gold is a good buy too.

It's only down because industrial demand has decreased. The fact that we are calling platinum "down" while it's close to $1000 shows what truly odd time period we are living in.

 

[Arklatex]

I'm not an expert on platinum but I'd like to add even though people aren't buying new cars old cars still must maintain a working cat converter, I think it's the law in most or all states. I had to buy a new one recently.

 

[lodge939]

Does platinum typically go up in economic turmoil? Is it a safe haven?

It's not really a monetary metal, afaik

 

[eric_cartman]

Does platinum typically go up in economic turmoil? Is it a safe haven?

It's not really a monetary metal, afaik

you should have a lot more gold than you do platinum. but if you've already bought a lot of gold, buying some platinum at these prices is a good idea.

i actually expect gold to go higher than platinum.

i wouldn't really say that platinum is a "safe haven" ... but it will protect against currency devaluation.

the advantages to platinum over gold is that platinum is much more rare, and it is used for industrial purposes. therefore, if a lot of cars are being built, and there is a lot of industrial production, platinum should do very well. and the platinum prices should follow a lot more closely to their supply/demand fundamentals... the gold price on the other hand is being manipulated to keep it from returning as money. so there's probably a lot less manipulation in the platinum prices, and if there is both economic growth and inflation, platinum should do very well.