I am currently captivated by the idea that platinum is $300 cheaper than gold.
Platinum was $200 cheaper than gold at one time. In 1974. During the financial crisis, Pt was $50-$60-$100 cheaper than gold and that was the biggest of big deals. Now it’s $300 cheaper.
Platinum is over 10x rarer than gold. And slightly more difficult to chemically refine.
Yes, I know that electric cars, the saviors of our civilization, need no cat converters. Yes, I know that automakers are trying like mad to substitute palladium for platinum.
I also know that platinum’s extraction cost is well over $1K/ounce. The last time I sold some Pt (about 2011) it settled out at about $1900. Now it’s about half that.
If platinum is over 10 times rarer than gold how can it be $300 cheaper than gols? It makes no sense to me.