Business & Finance: Platinum Boom

Last week platinum sold in the U. S. at $62 an oz. Week before it sold at $53. Week before that it sold at $43. In almost any other commodity such bouncing behavior would have to be explained by good reasons. In platinum it was not explained, for platinum is an unaccountable metal.

It was first found by South American Indians, then in Russia. A century ago the Imperial Russian Government tried coining platinum but it proved too valuable and the coins were melted down by a greedy public. Fifty years ago this...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!