LONDON, 23 January 2017 – BullionVault, the world largest online gold and silver investing platform, will shortly add platinum to its services to help meet growing investor demand for the precious metal, reports Bloomberg Japan today.
BullionVault will introduce platinum trading for US Dollars, British Pounds and Euros by the end of March, extending it to Japanese Yen in the future.
"There is solid demand for physical platinum investment," the news-wire's Japanese service quotes Atsuko Sato Whitehouse, head of Japanese market at BullionVault.
Private investors in Japan already see platinum as an opportunity, she explains, because it has fallen below the price of gold.
Western demand for investing in platinum, adds Trevor Raymond, director of research at the World Platinum Investment Council (WPIC), will likely increase as people recognise it is relatively cheap.
Japan's No.1 bullion retailer, Tanaka Precious Metal, last year sold 15 tonnes of platinum to investors, second only to 2015's record.
Derivatives market the Tokyo Commodity Exchange (TOCOM) will launch a new platinum contract in March.
WPIC is partnering with BullionVault to put platinum onto its world-leading internet platform for physical precious metals investment and trading.
You can read the full story (in Japanese) at Bloomberg here:
Popularity of Platinum Increasing on Discount to Gold: British company
