Record Price Set For Platinum

Earlier this week, platinum rose to an all-time high of over $2,000 per ounce. Classically used for jewelry settings, and a rather popular choice for many engagement rings, platinum is also used for catalytic converters in some automobiles. So what`s the reason behind the rising price? There have been energy issues in South Africa where the metal is mined, lowering production quite a bit. This drop in mining is estimated to last around four years as the national energy crisis in South Africa is resolved. In just the past four years, the price of platinum has doubled! Maybe this price surge will turn more people to white gold -- it may not have the same durable quality of platinum but it looks almost exactly the same.