Gold closed at the end of 2009 at $1104.00 USD on the London Fix, while silver closed at $16.99, platinum at $1466.00 and palladium at $402.00.
Yesterday, gold closed at an all-time high of $1222.50, while silver closed at $18.42, platinum at $1689.00 and palladium at $521.00.
While gold was up 10.7%, silver was up 8.4%, platinum was up 15.2% and palladium was up 29.6%.
Why do platinum and palladium continue to be overlooked as investment metals among the four precious metals with an international currency code? Palladium was the best-performing metal of the four in 2009, and continues to be this year. Platinum outperformed gold in 2009 and continues to outperform gold this year.
Previously, I wrote why platinum is the overlooked investment metal and currency.
[...] forums. For some reason, platinum remains the overlooked investment metal and currency, and palladium has outperformed gold and silver for the second year in a [...]
There is a kind of self-referential explanation which is that it is not a highly-marketable commodity because people don’t see it as a highly-marketable commodity… ;-)
My response to the comment on dailypaul.com of “so ask yourself why? you don’t have the 3 or 4 largest banks in the country manipulating those markets” was:
“All the more reason, I’d say, to diversify your precious metals portfolio, as I mention in my article on platinum being the overlooked investment metal and currency.”
My response to the comment on ronpaulforums.com that “If people don’t know much about them, it really limits the potential market for resale” was:
“I grant you that the dealers who will buy platinum and palladium from you are more limited than gold and silver. However, where you do find such dealers, you can expect a better return on your investment to-date since January 2009, and at times past. Sure enough, gold will outperform platinum and palladium at times in the future. The question is whether it’s worthwhile to diversify into other precious metals that have been more promising lately.”
Regarding the comment on ronpaulforums.com that platinum and platinum have not been considered money, historically, and that most people don’t know about other precious metals like platinum and palladium, my response was:
“Platinum and palladium have been considered money since the 1970s, with an international currency code only along with gold and silver, as I mention in my article about why platinum is the overlooked investment metal and currency. Also, platinum Eagles and Maple Leafs as well as palladium Maple Leafs have legal tender value, so platinum and palladium are literally money in the U.S. and Canada.
The fact that not many people think about platinum and palladium is something I see no logical reason for, given the value proposition that platinum and palladium provide for a balanced portfolio of precious metal investing.”
Comments at http://www.ronpaulforums.com/showthread.php?t=244159 and http://dailypaul.com/node/134390