"We dreamed of turning gold into platinum", says Bud Light in their Superbowl commercial last night. While the general consensus among viewers was that commercials were pretty lame last night, I am still pretty surprised that while paying millions for a 30 second spot, Bud Light would not have done a little bit more research. Why? Because anyone who would like to do a 1 for 1 swap, selling platinum and buying gold is giving up nearly $100 per ounce right now. Don't get me wrong, I get the general marketing concept; beer has a golden coloration, and to do the double comparison, color and value seems pretty creative..... And it would be, if it wasn't simply wrong.
Courtesy of Kitco, I have included below the 1 year Charts for both Gold and Platinum. As you can see, it is not as if this difference in price is a completely new phenomenon; though it is true that historically platinum has traded at a premium to gold. I have yet to see anyone with a Bud Light trading jacket on the floor of the Comex, but perhaps they were the same ones selling the June 4000 puts 2 dollars under intrinsic. While I can say I have gotten the occasional free beer or key chain from Budweiser, I never did expect they would be so willing to literally give away money.
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