The price of the basket of platinum-group metals (PGMs) in dollars is so low that even when converted into rands, it is still way off that of its precious metals cousin, gold, which has not only increased in dollars, but also moved into record territory in rands. Regrettably, the dollar prices of platinum, palladium and the other metals in the PGMs basket have fallen so steeply that they are still well below last year’s already-tough dollar average. The dollar price of platinum, for instance, is averaging $50/oz less than last year’s and the dollar price of palladium is $245/oz lower. The major fall in the dollar PGMs basket price to $1 650/oz from $2 400/oz in 2014 for leader Anglo American Platinum means that, even in rands, the rand PGMs basket of the world’s biggest platinum company remains where it was last year. Platinum, in fact, looks set to have a considerable wait before catching up with gold again, let alone overtaking it, as was its wont not that long ago.