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Gold is turning jewelers to platinum

ByVictoria

Prices of platinum, a white precious metal, have rallied over 30% this year to date, with spot prices currently around $1,200 per ounce. Spot gold prices are around 27% higher over the same period.

“Rising gold prices are incentivising jewellers to diversify, in what represents a change to historical patterns.”

The BofA analysts wrote that even a 1% switch in gold to platinum jewelry could help double the white metal’s supply deficit to 1.6 million ounces.

Source – Markets Insider

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