What is more promising: platinum or gold?

Over the past few months, many investors who bought gold at prices above $2,000 per troy ounce have been wondering why gold has stopped rising?

Almost every day the news reports about a possible US default and how much the price of the precious metal will rise after that, but the price still moves in the corridor of $2000-2050.

There are quite a few reasons why gold does not rise in price, but the most important is the low demand for this precious metal.

A paradoxical situation has developed in the market: on the one hand, Central banks and small investors are buying up gold bars, on the other hand, there is a reduction in demand for precious gold products and an increase in the supply of the metal.

In this situation, in order for gold to rise above 2100 per ounce, a really strong push is needed. What could be the promised US default or a new geopolitical conflict, for example, a civil war in Turkey.

Which metal will bring more profit in 2023, platinum or gold?

Due to the current situation, many investors are beginning to wonder whether platinum or gold will bring more profit this year?

Demand for platinum has fallen significantly in recent years, and this was the main reason for the fall in its price:

If you compare the price dynamics of gold and platinum, you will notice that there were periods when platinum was much more expensive than gold.

Now the situation is the opposite, the price of gold is almost twice as high as the price of platinum. But, this only makes platinum a more promising precious metal in 2023.

Most experts predict an increase in the price of platinum in 2023, citing a shortage of this metal as the main reason. The World Platinum Investment Council says that in 2023 the market could face its highest Platinum deficit in 50 years.

That is, we can assume an increase in the cost of metal in bullion by at least 25%, from $1,067 per Troy ounce to $1,300. There are also even more optimistic forecasts:

Unfortunately, today not every bank sells platinum bars; it is much easier and more profitable to buy metal through a brokerage company.

Of the brokers that allow you to open transactions in platinum, we recommend the following companies:

Amarkets - www.amarkets.org

InstaForex – www.instaforex.com

FxClub - www.fxclub.org

In this case, it is advisable to use not futures contracts with a limited period, but contracts for difference, the so-called CFDs for platinum, this will allow you to hold the position for an unlimited time.