With a front-running style, favored Precious Gold takes the lead by a head December 15th, 2008, 5:30 Eastern, with Price of Platinum coming in second at a price of $835 per ounce--$2 below gold. The prelude to this historical event was Friday, December 12th, when platinum and gold collided within a $1
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Although platinum is 30 times rarer than gold, the two metals' prices collided throughout the day and finally closed with gold at $822 per ounce and platinum at $823! Today's $1 spread was nothing short of historical for precious metals; the last time platinum and gold met at such close quarters was
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Platinum fell below $800 an ounce on Thursday--a welcome sight for most in the fine jewelry industry, who consequently are able to lower platinum jewelry prices in hopes of motivating consumers to purchase such items as platinum wedding bands.
Platinum has exhibited nothing short of a bona fide crash
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