(Kitco News) – The gold market is struggling to find new buying momentum after it was unable to hold the critical psychological support around $2,000 an ounce, and one market analysts says that now is a good time for investors to look down the value chain in the precious metals market.
It’s not just gold that looks expensive after hitting an all-time high earlier this month, but silver is also losing its value play as it has started to outperform the yellow metal. Trevor Raymond, head of research at the World Platinum Investment Council (WPIC) said that now is the perfect time for investors to look at platinum.
Because of unprecedented investment demand, gold’s premium over platinum has blown out to nearly record levels recently pushing well above $1,000.
“The gold price is hitting a psychological $2,000 an ounce level, but I don’t think there’s been a drop for appetite for precious metals and certainly for hard assets and alternative assets,” said Raymond. “We see a lot more gold investors looking at platinum, as either a proxy for gold or potentially something that might outperform in the short term.”
Although the platinum market has struggled to attract