Jan. 25 (Bloomberg) -- Even after a record 57 percent rally last year, platinum is cheap relative to gold, signaling more gains as demand grows from carmakers and exchange-traded funds.
An ounce of platinum buys 1.41 ounces of gold, down 42 percent from the record 2.43 ounces in 2001 and 23 percent less than the 10-year average, data compiled by Bloomberg show. Automakers, the biggest buyers, will expand output 20 percent this year, said Evan Smith, who helps manage $2 billion at U.S. Global Investors. Hedge funds raised their bets 163 percent in 2009, about twice gold’s increase. ETF Securities Ltd. funds lifted holdings to a record 598,104 ounces.
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Monday, January 25, 2010
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Find out how many points your credit score will drop if you make one of these common mistakes.
Asian and European stocks drop overnight
Week Ahead Market Report: 1/25/2010
Asian and European stocks drop overnight. Heavy earnings news and political events will make this a very busy week for US investors.Asian Markets Kick Off A New Week In The Red
01/25/10 The major Asian/Pacific markets started a new week in the red following a decline in commodity-related stocks.
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