Gold Down, Platinum Up

Gold Down, Platinum Up


2/19/2021 8:39:26 AM

Gold is Down While Platinum is Up

Platinum continues its good year, cracking $1,300 per ounce this week and settling above it. Gold is down to its lowest level since July.

Industrial metal demand is skyrocketing, driving prices for any metals with commercial applications. Base metals benefit significantly from this, but so do important precious metals like Silver and Platinum.

The United States is dealing with a massive network of winter storms that are slowing down deliveries, upending energy markets and causing blackouts. Texas in particular has been hit hard, with millions spending days without power in freezing temperatures.

COVID-19 numbers worldwide continue to drop as vaccines roll out. Pfizer and Moderna both pledged to boost sales and production for vaccines within the U.S.

The retail trading frenzy of a few weeks ago resulted in a hearing between some tech stakeholders and Wall Street heavy hitters on Capitol Hill.

APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies

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