Originally Posted by
xspower
The reason for the price increase is that the Platinum that is used in the element keeps going up in price. Like all the precious metals are doing. And the kicker is that the Platinum for the most part is bought from the manufacture either in Italy or Japan from the U.S. So that just add's to the price. Sad but true. So I agree lets blame it on the fuel prices.
XSPOWER, is right. It is estimated that Platinum will tripple its price in the next 5 years. And to think that when first discovered in Columbia, it was considered to be a junk metal. More than 90% of all platinum supplies come now from South Africa and Russia. The world's growing appetite for platinum is essentially satisfied by the mining activities in just two regions. The Bushveld Complex, which is just north of South Africa's capital, Pretoria, is one. The mines in this area produce more than two thirds of the platinum that reaches the markets each year. The other site is in the Noril'sk-Talnakh region in the extreme north of Siberia in Russia. It is estimated that at least one quarter of the world's supply is either currently mined here or is from above ground stocks that were accumulated over many years. Russia is the only nation with significant stocks of platinum and it is believed that these may be running out which is running the price up even more.
Sorry for the lesson..... Just helps to know why things are going up sometimes.