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Platinum today climbed to a 16-month high, extending its premium over gold, as investor holdings reached a record on concern that supplies will fall from mines in South Africa, which account for about 73 per cent of global production.
Platinum rose 1.2 per cent to $1,730.15 an ounce. In early trade, it rose to $1,736.07, the highest price since September 22, 2011. Prices are up for a fourth consecutive day.
Gold lost 0.1 per cent to $1,670.95 an ounce and silver fell 0.4 per cent to $31.68 an ounce.
Holdings in exchange traded-products backed by platinum expanded one per cent to a record 51.5 tonnes.
One ounce of platinum bought as many as 1.0287 ounces of gold today, the most since August 2011.
Platinum gained 12 per cent this year. Gold fell 0.3 per cent this year.
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