Where gold is mainly used for jewelry and ornamentation, platinum is more valuable than any metal except for the rarest and most expensive.
If gold is a metal, platinum is the most difficult, expensive, and technologically demanding metal to be found in nature, and it is still the most valuable of all.
This extreme rarity and expense make platinum one of the hardest and most valuable metals in the world. It is also the most tarnished.
In its purest form, platinum is an odd silvery gray color, but in polished form it appears gray with a greenish cast.
Platinum is much rarer than gold and its lack of availability means that most of the platinum used in jewelry, electronics, and dentistry is mined as a by-product of producing gold and other metals but when we see then gold is still on its top position as always you can check the gold rate.
It is also the most expensive precious metal, so platinum is only found in a small part of the world.
While 24 karat gold has long been the standard, goldsmiths are increasingly massing on 22k, which they say is harder to come by and more appropriate for wedding rings and modern ornaments.
A 24-karat gold ring (left) costs $775, while a 22k ring (right) will cost just under $1,000 you can check the current 22k gold rate.
Canada’s largest precious-metals producer, Barrick Gold Corp., announced Monday that it will triple its dividend next year, nearly doubling its payout from last year. It’s also selling an increased amount of gold at higher prices, earning the company more in profit per ounce.
With its stock closing up 4 percent on the Toronto Stock Exchange, Barrick joins the herd of gold miners showing strong returns for their shareholders, despite stock markets around the world underperforming.
Shares of Barrick have surged 56 percent in the past year, far outpacing the 15 percent rise of the S&P 500 Index.
The stock is trading at a forward price to earnings ratio of 9.1, below the industry average of 15 and the S&P 500 at 17.
It’s been a bumpy ride. After all, oil prices went from nearly $130/barrel to $50/barrel in just a year.
Oil prices recovered with the start of US summer driving season (August 1st) and the summer holidays in Europe, as speculators added to the push.
We just saw another spike in oil prices over the last week of July and some oil producers are starting to make noises about raising oil prices.
But the price of oil on the spot market in Canada was $109/barrel today (September 12th) and Canadian producers know that if they have higher costs, their shareholders will have to take a bigger hit.
The Canadian benchmark Western Canada Select oil price dropped to $47/barrel in mid-July, but today it closed at $56.60/barrel, the highest level in nearly four years (August 2013). Oil spot price are now significantly cheaper than on the US and global spot markets.