Thursday, April 09, 2009

Platinum's Quiet Rally

Platinum is staging a steady and impressive rally off its December 2008 lows.  After dropping below 800, July Platinum futures hit as high as 1220 today, eventually settling at 1195 for the day.

Platinum is mostly used in industry, but is also considered "hard money", and maybe the 3rd most obvious hard money alternative to fiat currencies - behind gold and silver.  Platinum should do quite well as this newly printed money makes its way into circulation.

Tom Dyson from GrowthStock Wire also likes Platinum a lot, saying "you're nuts if you ignore platinum."

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