Platinum Bars

You have probably heard recent radio or television announcements about the benefits of investing in gold. Many pundits and analysts are saying that investing in gold is a great way to preserve capital over the long run. However, there are a lot of other precious metals that can be used as investments aside from gold. Although you don’t hear about them as often, there are several that make good investment vehicles if you do your research and learn how the process works. Investing in platinum bars is a perfect example of this. Many people haven’t heard about the opportunity to invest in platinum, but that doesn’t mean it is nonexistent. To help you learn more about investing in platinum bars, here is a brief guide to platinum investments.

Platinum is a very expensive and rare metal that is currently worth somewhere around $845 per troy ounce. Aside from being used for expensive jewelry, it also has several industrial applications, such as in catalytic converters. Believe it or not, platinum is also 30 times more rare than gold, which explains its high value. It is typically extracted as a by product of nickel and copper mining and is much heavier than many of the other precious metals, making it easier to purify via liquid bath.

Platinum has long been associated with prestige and a symbol of wealth. Take for instance, platinum credit cards, which are assumed to be harder to get and of higher value than gold credit cards. The same is true for platinum jewelry, meaning that it is often reserved for more expensive pieces and collections.

The fact that platinum is so rare and has so many uses means that it is much more difficult to find in the way of platinum bars or other forms of platinum investments. Platinum has a shorter investment history than gold or silver and as a result is still working its way to the forefront of precious metal investing. Platinum is actually traded as a commodity on the New York Stock Exchange and has a price that has been volatile as of late. However, this doesn’t mean that platinum bars are a bad investment vehicle, but you do need to be cautious when you buy them.

Try to find platinum at its yearly low and you will be more than likely buying it at a good price. However, were you to buy it at its high last year, you would have lost over 1500 dollars per ounce over the course of the year. Therefore, do your research and make sure you are buying from a reputable source at the right time. Because platinum is so rare, it will eventually gain more value than it loses, but during times of volatility you will have to be prepared for the risk that comes with platinum investing. So to make a long story short, do your due diligence before you being investing in platinum to make sure that you have a plan for approaching the market.

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Platinum Price