How to do Investment in E-Platinum through SIP every month
Now a days yellow metal is just getting high drastically in a single direction, like the same way parallel platinum also increasing in a silent way, Many of them know Platinum is costlier than Gold and so they stay away. Yes its true but also when we see from investment part we can do SIP for every month by purchasing an minimum of 1 gram of Platinum in our demat account.
In 2001 1 ounce Platinum is sold for $100 but now the same is sold for $2301. Every year Platinum has given minimum of 20% profit returns, and also we need to know some of the other points about Platinum.
Where is the main production of Platinum?
We have never even heard about production of Platinum from India, Yes the source is very less in India. The main production of Platinum to the world are South Africa and Russia which it is there very naturally. Production wise some of the cities like Roust an Park, Impala, Lanro which are the cities in South Africa and in Siberia there is famous mines called as Naurlicks mines which we receive Platinum in more than 90% production.
Main usage of Platinum
Platinum is mainly used in many places commercially. It is used in 40%-50% in heavy vehicles like four wheeler cars as an Catalytic Converter, that is to reduce Carbon monoxide, for Jewelry purpose it is used for 35% and for Medicinal use it is used 15% and others small quantity is used for investment purpose. While comparing to the world countries China is consuming 25%, European countries of 27%. America, China, Japan and India use Platinum in small quantity but in upcoming days a big market is awaited in these countries.
Present status of Platinum
In last one month Platinum has just increased up to $220 which is up to 15% upper side the reason behind this that South African mine labors in strike for the need of rise in daily wages. Due to the shortage of supply price increased rapidly.The worlds third largest Platinum producer is Lonmin mine which in South Africa produces which is 2500 ounces (1 ounce = 28.35gram). The world production Platinum is 192 tonnes , the production is more than the usage but the current situation which is decreased 6% than the required.
In India Platinum has been sold for an minimum of Rs.2583 and an maximum of Rs.3250 per gram. In day trade Platinum has traded decreased twice more than 20% in a day and increased 15% twice from past September 2011 to this September 2012.
The best only way to invest in Platinum every month is E-Platinum which is nothing but as like SIP (Systematic Investment Plan). As like EGold, E-Silver, E-Platinum also traded in NSEL (National Stock Exchange Limited). In terms NSEL 1 unit e-platinum is equal to 1 gram of physical platinum which is 999.50 pure platinum. To trade in NSEL margin amount has to paid as only 5%. To trade in NSEL Demat account and Trading account is needed. When we in need of cash we need to sell some of units or we can take physical delivery of platinum as like the same system for gold and silver.