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THE VALUE OF PLATINUM
Elevated Price for Platinum
Article # : platinum166
Elevated Price for Platinum
The worldwide production of platinum makes up about 190 tons annually. Compare it to gold, with annual production of about 3,300 tons. Probably, these numbers partially explain the elevated price for platinum. The price for one ounce of the noble metal is 1,660 Swiss Francs (1,431 US dollars) and 928 Swiss Francs for gold (800 US dollars). Moreover, with no large inventories of platinum stored in central bank vaults, any interruption in supply results in soaring prices.
The elevated price for platinum is explained not only by the scarcity of platinum in the earth's reserves. To get the pure platinum, it is necessary to conduct more than 50 different processes.
Source: watches.infoniac.com