Platinum, palladium can be investments, but not like gold

Move over, gold, and make way for platinum and palladium. Investors are taking a shine to these lesser-known precious metals as their prices rise.

But do these newly minted fans understand that platinum and palladium won't offer the disaster-scenario protection that gold can bring to an investment portfolio?

It's an important consideration for investors who may be dazzled by recent rallies for both metals. Platinum prices are up about 40 percent over the past 12 months, while palladium has more than doubled.

The chief uses for both metals are industrial. That's why their frequently volatile prices are driven more by demand for automobiles and electronics than fear about the economy and currencies. (more)