Tuesday, March 04, 2008

Platinum - position increased

With no sign of South Africa's power shortage easing or the demand for commodities abating, I made a small addition to my position in platinum this morning. This was largely an exercise in putting what would otherwise be idle cash to work.

My position in platinum is held through a notional precious metals account with Bank of China (Hong Kong) Limited. This was chosen in part for historical convenience and in part because it offers lower transaction costs/spreads than the ETCs listed in London or the inconvenience of physical metal. My position in silver is held through the same account (and yes, I am really kicking myself for selling part of my silver position back in January).

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