|Bid||0.00 x 900|
|Ask||0.00 x 1400|
|Day's Range||89.25 - 91.67|
|52 Week Range||55.00 - 96.93|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-12.57%|
|Beta (5Y Monthly)||0.61|
|Expense Ratio (net)||0.60%|
Although it is less commonly talked about than gold and silver, platinum is nonetheless an important precious metal. In addition to being prized by many investors, platinum is also widely used in manufacturing products such as cars, jewelry, and electronics.
Palladium is the most valuable precious metal at the moment, but platinum could narrow the gap against its rival, lifting the Aberdeen Standard Platinum Shares ETF (PPLT) along the way. “Palladium will cost on average more than twice as much as platinum this year, but that premium will narrow in 2021 as prices slip from record highs and platinum gains ground,” according to Reuters. Platinum is primarily used in catalytic converters in diesel-powered automobiles, but environmental concerns previously tamped down demand for the precious metal.
Thanks to as much as a 500-point drop in the Dow Jones Industrial Average in Monday’s trading session, it was risk-off for investors as they piled into safe havens like bonds and gold. Gold was on a path of bearishness after a U.S.-China “phase one” trade deal put the risk back into the markets. “After almost three weeks of consolidation, gold has now pushed higher on risk-aversion as the Coronavirus position worsens and the markets move away from risk,” said Rhona O’Connell, head of market analysis for EMEA & Asia at INTL FCStone, in a daily note.