Japan's largest bullion retailer Tanaka Kikinzoku Kogyo has announced a plan to secure greater investment in platinum.

Under the terms of the scheme, which is set to be launched next year, investors will receive an annual interest rate of 0.55 per cent on a minimum monthly investment of Y3,000, said Hitoshi Iijima, Section Chief of Tanaka's Asset Sales division.

The injection of capital will enable Tanaka to borrow metal it holds on behalf of investors for use in products, such as autocatalysts and diesel particulate filters, and may also supply metal to others on a loan basis, Bloomberg reports.

The size of the interest repayments make Tanaka's scheme a better prospect for investors than one-year term deposits at banks, Mr Iijima said.

News of the investment plan comes as platinum prices have grown by 29 per cent this year - outstripping gold which is up 26 per cent.

Commenting on the upward trend for platinum prices, Tetsuro Koide, Deputy General Manager at Tanaka's Precious Metals division, said: "In October and November, investor buying is picking up. Previously, rising prices prompted investors to sell the precious metals."

Source:

Top bullion retailer pitches interest yield on precious metals to investors
http://search.japantimes.co.jp/cgi-bin/nb20071123n2.html

http://www.tanaka-precious.com/


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