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The Rising Price of Platinum. WOW!
The price of Platinum, the metal of choice by Consumers for their engagement rings, wedding rings, and wedding bands has risen meteorically over the past year and on a daily basis especially in the last few weeks. Look at the graph below:
From mid-December 2007 until today the price of Platinum has risen by $800.00 an ounce!
The weak dollar, rising Oil prices, and power and electricity shortages in South Africa which mines the bulk of the worlds Platinum have all contributed to the this price increase.
Manufacturers of Platinum Jewelry have no option but to raise prices and pass on these price increases to their retail jewelers. As a consequence your Gold and Platinum Jewelry is becoming dramatically more expensive and costly.
Precious Metals Analysts expect these price increases to continue in the forseable future.
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