Why is Platinum Much More Expensive Than Gold?
Platinum is a hypoallergenic virtually pure precious metal. Jewelry stores who sell high quality platinum offer 950 Grade (95% pure platinum) jewelry. Anything less should not be considered either pure or hypoallergenic or of substantive quality.
This
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At face value, it seems that now is the right time to invest in platinum when you consider the highs and lows of the past 52 weeks. Platinum reached an all-time high of just over $2,300 per ounce in March of 2008 and today tries to hold firm around $940 an ounce--a 60% drop from its primordial heights
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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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Italian humanist Julius Caesar Scaliger described platinum in 1557 as an unknown noble metal found between Darién and Mexico, "which no fire nor any Spanish artifice has yet been able to liquefy". King Louis XV of France declared platinum the only metal fit for a king in the 18th century. Today, platinum
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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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Gold and jewelry enthusiasts, even economists and investors, have been closely watching the unpredictable gold market in the past several years as it began to behave uncharacteristically erratic. But platinum, its more expensive counterpart, has been largely ignored.
Platinum has had some dramatic
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