1 oz. Platinum Bar
Platinum is the most rare of the precious metals. Industry also relies heavy on this metals for the new technologies that are required in our advanced age. One of the fundamentals of the platinum market is that there is no stockpiles like there is for gold and silver meaning that any disruption in mining means quick gains for this metal
Platinum is the rarest precious metal on the planet, and the products in which it is offered are some of the best vehicles for wealth preservation in the twenty-first century? Why? Well, platinum is the rich man’s gold, you see. Moreover, its most recent history spells supply disruptions more clearly than silver.
The 1oz platinum bar is generally made by familar companies such as Credit Suisse, Pamp Suisse, Engelhard, Johnson Matthey and others. Quite pretty bars, and a cheaper premium than any of the platinum coins.
Through the first month of 2013, platinum was the second best performing asset YTD.
Demand for platinum ranges from catalytic converters for automobiles to a stalwart jewelry demand that is growing due to economic strength in the east.
Gross demand for platinum from the global jewelry industry grew in 2012 by 10% to 2.73 million ounces, the highest since 2009, according to Johnson Matthey’s recent “Platinum 2012 Interim Review.”
With precious metals prices rising, jewelry manufacturing in China has expanded to become the biggest market for such platinum product. Demand for platinum jewelry is anticipated to rise by 25% to 100,000 oz.
Considering recycling of old retailer stock and consumer pieces, net platinum jewelry demand in China is expected to grow by 16% to 1.42 million ounces. Platinum purchases by the Chinese jewelry industry through the Shanghai Gold Exchange and Hong Kong traders ran at a three-year high in the first eight months of the year due to low prices.
Driving the demand in part, new Hong Kong jewelry brands have increased the need for manufacture stocks of platinum jewelry. Demand is stalwart throughout mainland China.