The amount of platinum held by investors with online gold, silver and platinum market BullionVault almost doubled between January 2020 and January 2021, while the number of investors in platinum has increased by more than 70%.
BullionVault client holdings of platinum rose by 90% during the past 12 months, and by 120% in dollar value, to 55 000 oz, worth $61-million.
By comparison, client holdings for gold rose by 19% on the platform over the same timeframe and silver by 37%.
There was also a significant increase in the number of investors owning platinum. While the number of BullionVault accounts holding gold rose by 30% and silver by 45%, the number owning platinum rose by 74%.
Further, investors in platinum on the BullionVault platform are now spread across 95 countries.
BullionVault CEO Robert Glynne says the past 12 months has seen “phenomenal new” interest in precious metals. “We are very pleased to be helping grow investment demand for platinum through our partnership with the World Platinum Investment Council (WPIC).
“Expanding our secure, low-cost and 24/7 platform to include vaulted physical platinum is proving increasingly popular, particularly with UK and European investors who would otherwise incur value added tax sales tax when buying.”
The WPIC had reported in its Platinum Quarterly, published in November 2020, that global investment demand for platinum has remained high throughout the past 12 months and that the strong growth in investor demand had contributed to platinum’s overall deficit in 2020.
Both the WPIC and BullionVault have been active in driving the growth in platinum physical investment over the past several years.
WPIC CEO Paul Wilson says that, from the outset, the WPIC has been pleased to help BullionVault achieve growth in the physical platinum investment market.
“We are passionate about providing good value, well designed investment products to platinum investors. BullionVault’s efforts contribute well to this objective, providing investors with another attractive way of owning platinum that is worthy of consideration.”
He adds that when the WPIC started in 2014, the organisation set out with a long-term commitment to the market to ensure quality and wide-ranging choices for platinum investors, wherever they may be.
“Our work with BullionVault is a good example of exactly this. We are delighted that, as one of many partnerships we now have around the world, it has gone from strength to strength.”
Wilson notes that the WPIC has confidence that these partnerships will continue to grow in step with the increasing recognition of platinum’s investment merits that is becoming evident.