This is a syndicated repost published with the permission of Money Morning – Only the News You Can Profit From. To view original, click here.…
Don’t overlook palladium and platinum, key materials used in building catalytic converters. Demand for the metals – and prices – will take off.
Talk about looking for best investments in the most unlikely places…
The bad economic news out of Greece has dominated the headlines for several years now.
Thanks to the hit gold prices took in mid-April, other precious metals also got caught in the downdraft – but some still look to be among the best investments of 2013.
Take platinum, for example.
It is currently trading at about $1,500 an ounce, well off its 52-week high of $1,734 an ounce. During the height of the selloff last month, it touched a low of $1,381 an ounce.
Investors sold it along with all other precious metals, even though the fundamentals for platinum may be better than ever.
While platinum’s long-term outlook is bright, a short-term price catalyst is about to take place, as early as this week.
The world’s biggest platinum producer, ANGLO American Platinum (Amplats), could take a significant amount of platinum off the market. The restructuring could cost 14,000 jobs and close two South African mines.
It’ll also help drive a supply deficit that will only expand in the years ahead, making platinum one of the best investments to make now before prices soar.
No wonder Sprott Holdings’ Rick Rule bought $280 million worth of platinum and palladium earlier this year…
This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street…
This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street…
This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street…