Gold’s impressive rally, which began with the collapse in global bond yields back in early June initially, left other metals with weaker fundamentals trailing. However, after reaching a six-year high and with speculative longs hitting record levels, investors have begun looking for relative value in other metals such as silver and platinum during the past couple of weeks.
This expansion of safe-haven demand saw platinum head for its biggest weekly gain since 2015 with the discount to gold crumbling by 80 dollars during this time to 600 dollars. The gold-silver ratio measuring the value of one ounce of gold in ounces of silver dropped to 83 after topping out recently at a multi-decade high above 93.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, they secured surface platinum-bearing tailings to recover PGMs and chromite, lead, zinc and vanadium bearing tailings in Zambia and holds the mining right to a primary PGM project in the Eastern Bushveld complex.