Pursuits
Rare Platinum Discount to Gold Inspires Bulls Seeing Slump's End
- Metal-price gap widest on record going back at least 28 years
- Platinum to trade above gold again in 2016, HSBC's Wen says
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Despite all the bad news for platinum in 2015, one indicator shows the metal’s worst slump in four years may be over. It’s never been so cheap relative to gold.
The price of platinum used in auto catalysts and jewelry spent most of the past decade trading at a premium to the yellow metal, averaging 34 percent higher, or $273 an ounce. That changed this year as platinum plunged, creating a discount that earlier this month touched $228.60, the widest gap since at least 1987, data compiled by Bloomberg show.