For years, platinum’s nickname was “rich person’s gold.” From the mid-1970s through 2011, platinum prices were primarily higher than gold. However, for more than a decade, platinum has underperformed its precious cousin, with the gap between gold and platinum prices increasing. In February 2024, platinum was trading at a record low against gold.
Platinum prices moved 7.33% lower in 2023, closing the year at the $995 per ounce level. In a December 27, 2023, Barchart article, I wrote:
