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R. Michael Jones: Shallow Ounces of Platinum Draw Deep Pockets
Source: The Gold Report, Thom Calandra
Platinum, it was said long ago, was the preferred treasure of kings and queens. The rarest precious metal in recent decades has had its commercial uses diverge from jewelry, watches and coins into new markets: catalytic converters for automobiles, fuel cells and other industrial uses. Platinum’s per-ounce price has risen to $1,240 an ounce from $850 or so in October/November. R. Michael Jones, a 45-year-old geological engineer with a Toronto pedigree, started Platinum Group Metals Ltd. (tickers PLG in USA and PTM in Canada) in the year 2000. Since then, Mr. Jones’s Vancouver-based company and…
15Apr2009 | The Gold Report | 0 comments | ContinuedIt’s Time to Take Precious Metal Profits
It’s just about time to take profits on platinum.
Back in January, we made the unpopular assertion that platinum would outperform gold this year. At the time, it seemed ludicrous – at least, that’s what I heard from the many gold bugs who read our musings here in Growth Stock Wire.
After all, platinum is more of an industrial metal while gold is a a hedge against inflation. So with the economy in a recession and with the government running the currency printing presses around the clock, logic dictated gold should be the metal of choice.
Of course, I’ve never been…
14Apr2009 | Stansberry and Associates | 0 comments | Continued
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