Platinum is a precious metal that’s generally worth more than gold, but lately it’s been overlooked in favor of the yellow metal. There are ways to access this specialized market with exchange traded funds (ETFs) until a true fund backed by the metal launches.

Platinum’s price premium over gold has recently been shrinking, but platinum should continue to prevail, because it’s one of the rarest precious metals.  Platinum prices have climbed more than 36% from their low in early July to trade at highs above $1,500 an ounce, levels not seen in 15 months, reports Commodity Online. (How hard asset ETFs can benefit you).

Analysts say that some of the price jump has to do with the pending launch of a platinum-backed fund from ETF Securities, while the rest of it has to do with gold’s rally to record prices. ETF Securities already has platinum funds in London and Asia, which have shown gains of 60% year-to-date and and 9% since August, respectively. (ETF plays for other metals).

A possible drop off in industrial demand is the major hurdle that platinum is facing, as growth in Chinese jewelry demand may not be enough to make up for the sluggish market. Any rebound in the auto industry, however, could pick up the slack. (How far off is a rebound in the auto industry?)

For now, investors will have to content themselves with other ways to get exposure to the precious metal. Note that the two funds below are exchange traded notes (ETNs), so they come with credit risk. (How ETFs and ETNs differ). For more stories about platinum, visit our platinum category.

• E-TRACS UBS Bloomberg Long Platinum ETN (PTM): up 49.8% year-to-date

• iPath Dow Jones AIG Platinum TR Sub-Index ETN (PGM): up 65.5% year-to-date

Tags: Commodity ETFs, ETNs, PGM, Platinum, Precious Metals, PTM