JOHANNESBURG (miningweekly.com) – The World Platinum Investment Council (WPIC) and BullionVault have partnered to deliver a secure, low-cost way for private individuals to invest in physical platinum, along with existing gold and silver offerings, in an online marketplace.
The parties on Wednesday announced a new agreement that will see WPIC support BullionVault in the building, marketing and promotion of the online market for physical platinum and existing commodity sales.
“The WPIC’s partnership with BullionVault will bring new levels of accessibility, liquidity and pricing to the global platinum market,” WPIC market development director Marcus Grubb said in a statement.
BullionVault currently holds in excess of 35 t of gold and 600 t of silver through pooled allocated client accounts, with some 60 000 private investors from around the world having invested in gold or silver.
Now, physical platinum will be sold in the form of London Platinum and Palladium Market good delivery bars, with vaulting locations in Switzerland.
“We see this as a key strategic opportunity for BullionVault and a natural progression of our business. In keeping with our gold and silver offerings, we intend to become the lowest cost provider of physical investment platinum in the world,” BullionVault CEO Paul Tustain added.
The platform will operate in multiple currencies and languages when it goes live in the fourth quarter.
Edited by: Creamer Media Reporter
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