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Paul RichterGold price rises above platinum today.

Aug
22
Remember when I would tell you that Platinum if at least double the price of gold, and therefore beyond your budget? Well surprise surprise. Gold poked it's head above the platinum price today, making it more expensive than the rare white metal. This means that we will most likely be producing more platinum pieces in the near future. Don't be confused though. The price quotes refer to 1oz. of the metals respectively in their pure form. Platinum is typically alloyed down to 95% pure with 5% alloy (typically iridium or the ever more popular ruthenium). Gold jewellery in North America is typically either 10K or 14K and sometimes 18K. Using 14K as an example, the pure gold is alloyed with a variation of alloy metals to bring it's purity down to 58.5% with the balance being alloy materials. This means that for now, the price per gram of 14K white gold versus platinum is still less expensive. To remain competitive and viable in the market place, we are unable to raise the profit margins on our staple raw material to proportionally reflect the increase in it's pure price. The question on all of our minds is this: Where do we go from here? Nobody can answer this question absolutely, so we wait and watch with baited breath.

Read more about this here: http://www.wealthwire.com/news/metals/1664

Gold Platinum Ratio 
 
Paul Richter
Paul Richter
View all posts by Paul Richter    
platinum, gold, price
Published: August 22, 2011
 

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