Is Platinum A Better Investment Option Than Gold?

Bangalore: In this festive season of Diwali and Dhanteras, are you planning to buy gold? Then think over it again before you invest. Though gold can’t outshine it but platinum, an equally precious metal like gold is also a great investment option. Till date, it had a very high price then gold, but off recent its price is very much close to gold.

As on November 7, platinum is trading at Rs.3,256 per gram and gold at Rs.3,134 per gram. On October 24, the prices were Rs.3,062 and Rs.3,178 respectively, as per ET report. "Since the price of platinum is lower than that of gold, it's a favourable time to buy it," says Prithviraj Kothari, president, Bombay Bullion Association, as quoted by ET.

Few years ago, platinum price was 150 percent of gold prices but this scenario changed in the past five years and its price become much lower. Financial experts believe that this situation will continue for some more time. As the economy is going through a soar reformation and the recent hike of gold prices and held this situation a little longer.

"Platinum may remain in the range of $1,500-1,700 an ounce (Rs.2,857-3,238 per gram) in the next few months. However, it should recover within a year," says Naveen Mathur, Associate Director, Commodities & Currencies, Angel Broking, as quoted by ET.