Global Turmoil Drives Platinum Prices to Record Highs
During early trading on Friday, platinum shattered its previous price record and climbed to $2,684 an ounce. This current surge has been fueled by a confluence of factors, chief of which is the ongoing geopolitical turmoil around the world. The current rally of platinum comes in the wake of investor concerns about traditional United States assets, such as Treasuries and stocks, and the overall economic direction of the country. As investors have lost trust in these instruments, there has been a growing shift in which portfolio allocations have moved in favor of hard assets like gold, platinum and silver. These…