Platinum producers have been battling falling prices and increased costs associated with mining. Before yesterday, platinum prices were trading down 21% on the year. Today platinum futures were trading at $1472.90 an ounce.
I remain bullish on platinum considering its correlation with gold. The spread between gold and platinum is currently very out of whack with gold currently overpriced with regards to the rarity of the metal.
David Cornes holds a degree in economics from the University of Montana.
