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Platinum Continues to Soar to New Record Highs

Posted By david.pennington On October 4, 2007 @ 11:39 am In Uncategorized | No Comments

 [1] Platinum Continues to soar

by: Mike Pennington

 

http://www.bloomberg.com/apps/news?pid=20601012&sid=aX2fXxUm0PW0&refer=commodities

 

One of the great aspects of owning Platinum is that it provides diversity to your precious metals portfolio. Gold and Silver are affected by different technical factors than platinum that allows the price of platinum to move independently of gold and silver. The driver of Platinum prices higher currently is a shortage of supply along with an increase in demand. This is Economics 101. Global supplies are declining rapidly. The second largest Platinum mine is located in

Zimbabwe, a country devastated by the rule of a real life tyrant, Robert Mugabe. He is very close to having the mine closed altogether. The situation led Ron Goodie, Director of Futures Trading at Equidex Brokerage to say of Platinum, “When you look at limited supply and strong global demand, the sky is the limit.”

 

This is one of the reasons we are recommending for clients to purchase the 2007 Platinum Eagle 4 coin set. It is very possible this set of coins will double in value in the next 12 months.

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