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Platinum may be the best precious metal to bet on

Kitco Metals Inc. precious metals director claimed that the best precious metals to pick from the current market is platinum that too for long term investment. This metal proved to provide effective hedge against changing precious market conditions. In this condition whether gold soars or remains the same, platinum continues to hold a reliable rate.

Platinum also fairs on the demand and supply graph. 90 percent of the platinum and palladium metals are extracted from South Africa and Russia mines. The reliability of the supplies is dependent on metal price and Platinum faced a deficit of 375,000 ounces in 2012.

About 5 percent of the investors are holding a position in platinum due to the rise in the number of different types of investment vehicles. Some investors are not even aware of these types of precious metals while some investors concentrate only on gold and silver and are not ready to invest in platinum or palladium.

Source- Reuters

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