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Best Investments 2013: How the Mining Mess Will Send Platinum Soaring – Money Morning

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…

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