The World Platinum Investment Council (WPIC) and BullionVault today announced the addition of platinum to BullionVault’s online trading marketplace. This marks the first time platinum has been offered on BullionVault, the world’s largest online precious metals marketplace for buying, selling and storing physical gold and silver bullion. The launch targets the underlying growth of investor demand. BullionVault will, for the first time, give private individuals access to vaulted platinum at the same low costs currently enjoyed by institutional investors.
From today, individuals will be able to buy and sell platinum bullion at the best possible price via BullionVault – the only precious metals market which stays open 24 hours a day, 7 days a week. More than 65,000 private investors from around the world have invested in gold or silver through BullionVault, with current holdings in excess of 37 tonnes of gold and 650 tonnes of silver, all stored and insured in specialist facilities.
Physical platinum customers can now buy platinum in the form of London Platinum and Palladium Market (LPPM) Good Delivery bars, vaulted in London. Customers are able to buy, hold and sell as little as one gram at a time of professional-grade platinum in GBP, USD, and EUR currencies. Weighing between 1 and 6 kg, these Good Delivery bars are assayed to be 99.95% pure platinum, or better.
With the new offering, the World Platinum Investment Council and BullionVault are delighted to introduce participation in the platinum market to a wider investor audience.
As part of a multi-year agreement, the WPIC is supporting the continued development and marketing of BullionVault’s online platinum market. As of today, BullionVault will offer platinum in multiple currencies and languages through local websites.
The partnership with BullionVault is the latest in a series of strategic initiatives announced by the WPIC intended to further stimulate and service the growing investor demand for physical platinum. In March, the WPIC announced a new association with India’s Muthoot Exim, the precious metals division of the 130-year-old conglomerate of Muthoot Pappachan Group, to launch India’s first platinum deity products. This follows a number of announcements in 2016, including a partnership with the Royal Mint, the world’s leading export mint, to develop and launch a range of platinum bullion coins and bars. In July 2016, WPIC also announced that it was supporting the promotion of the Japan Physical Platinum ETF, managed by Mitsubishi UFJ Trust and Banking Corporation (MUTB), to investors in Japan.