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According to the Telegraph, the global economic recovery that is taking place, especially in the motoring industry, has boosted stock market trading in white metals.
Half of all cars need catalytic converters - which are made from platinum - and along with demand from Asia, the commodity is being driven to reach premium prices.
"I prefer platinum to gold as it gives you the best of both worlds: it shows a close correlation to gold but is also used in auto catalytic converters to reduce vehicle emissions," Amit Lodha, manager of Fidelity's Global Real Asset Securities fund, as well as the Global Industrials fund, told the newspaper.
The comments come after Monday (April 5th) saw the price of gold per ounce rise to $1,133.40 (£744), the highest since early March.
Palladium and platinum rely more than gold on industrial demand, hence why a financial recovery could trigger increased stock market trading in white metals.
Posted by Greg Secker
