Compared to gold, platinum has earned its reputation for several reasons. For starters, gold is much more abundant in the Earth's crust, making platinum rarer. Although 1,500 tons of gold are mined per year, only 160 tons of platinum are mined. Platinum is much rarer than gold and other metals that investors buy, including copper and silver.
Investing in a Gold Investment Account can be a great way to diversify your portfolio and hedge against inflation. South Africa produces more platinum than any other country, so business interruptions in that country can seriously affect the global supply of platinum. While the price of platinum depends largely on supply and demand, gold is much more stable. Platinum is generally valued more than gold. This is because platinum is rarer than gold, has a higher density and is purer.
Platinum rings require more platinum than gold rings, which can increase the total cost. While gold can increase in value the greater the carat, platinum is almost always worth more than gold. White gold is created by mixing gold with white metals such as silver or nickel, and is coated with rhodium. If you're looking for alternatives to a traditional IRA and are deciding whether to buy gold or platinum, gold is probably your safest bet.
