While all eyes are focused on Greece and the likely effect on gold, platinum and palladium saw sharp gains today.
(1888PressRelease) June 29, 2011 - MIAMI, FL - Platinum and palladium both saw noticeable gains today. With all the focus currently on the Greek crisis, and its likely effect on gold, the platinum group metals have attracted little interest over the last week or so. However, in May Switzerland exported the largest amount of platinum in the last two years and, during the last month China has been one of the largest buyers of the metal, possibly taking advantage of relatively bargain prices. Industrial demand is also a huge factor.
Platinum has traditionally shown itself to be more volatile than gold, due to its heavy dependence on industrial demand. It does not oxidize and is highly resistant to corrosion, making it a perfect metal for use in the jewelry and dentistry industries and for electrical applications. However, the greatest demand for platinum comes from the automotive industry, where it is used for emissions control. At the same time natural ore deposits are very rare and supplies can be uncertain.
Palladium has the lowest melting point of any of the platinum group metals and also sees heavy demand from the automotive industry, where it is used in the manufacture of catalytic converters. Ore deposits are extremely rare, resulting in considerable investor interest in the metal.
"Investors interested in platinum and palladium should contact us for further information," says Bill Hionas, CEO of Pan American Metals of Miami (PAMM). "Our team of seasoned brokers are available to offer advice that is tailored to each client's individual needs."
On June 28, PAMM was showing platinum up $7 at $1692 and palladium up $10 at $738.
About us:
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.
While all eyes are focused on Greece and the likely effect on gold, platinum and palladium saw sharp gains today. 
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam