Thе price οf platinum wаѕ ассυrаtе tο $2,300 іn March, аnd now іѕ below $1,000. Whаt accounts fοr thіѕ, mainly given thаt thеѕе uncertain economic era wουld predict a rise іn thе price οf precious metals? See chart here:
http://www.monex.com/prods/platinum_chart.html
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All commodities and metals are under performing. Precious Metals are not the hedge that people believe they are. That is left over nonsense from the days of the gold standard, perpetuated by gold dealers and nutball speculators.
If you look at the past 50 years, the return on such investments are dreadful. Like around 4%.
Used primarily in car manufacture. When car manufacture falls, less buyers are bidding on the glut of platinum for sale which causes the price to drop.