(1888PressRelease) While gold and silver fluctuated, palladium and platinum both made significant gains this week.
MIAMI, FL - While the world has been eagerly watching every move in the gold and silver markets, the other two precious metals, palladium and platinum, have been quietly gaining ground. The platinum group metals do not react quite so strongly to every whispered rumor about international economic factors, their price tends to be determined more by supply and demand.
Supplies of platinum are deemed to be under threat as the National Union of Mineworkers in South Africa is still threatening industrial action, having rejected a wage offer. Platinum ore is extremely rare and deposits are mainly found in South Africa, Russia and Canada. Platinum rose by $9 to $1797, Friday, while palladium rose by $11 to $807. Both metals depend heavily on the strength of the industrial sector, particularly the automotive industry, where they are used in the manufacture of catalytic converters.
When investors turn to precious metals for a safe haven investment in times of economic uncertainty, they tend to choose gold, or possibly silver, but platinum and palladium can also be a valuable addition to any portfolio.
"Platinum and palladium can be more volatile than gold but each has unique properties that make it a fascinating financial instrument," says Bill Hionas of Pan American Metals of Miami.
Investors wishing to take a position in platinum or palladium should consult with one of Pan American Metals of Miami's team of seasoned brokers. PAMM's team has decades of combined experience and brokers only recommend positions they would be comfortable holding themselves.
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who combine many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com