Gold Investing News » Is Platinum Overtaking Gold as Metal of Choice on Autos?

Is Platinum Overtaking Gold as Metal of Choice on Autos?

January 26, 2010 @ 5:43 pm In Other Editorial

The Bloomberg reports on the Platinum Overtaking Gold as Metal of Choice on Autos.

Even after a record 57 percent rally last year, platinum is cheap relative to gold, signaling more gains as demand grows from carmakers and exchange-traded funds. An ounce of platinum buys 1.41 ounces of gold, down 42 percent from the record 2.43 ounces in 2001 and 23 percent less than the 10-year average, data compiled by Bloomberg show.

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