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Platinum trading at a 17 year low

Night HawkNight Hawk Posts: 44 ✭✭✭
in Precious Metals

Earlier today platinum was at $585 and is currently about $600 per ounce. Platinum has not been this low since December 2002. At $1470 gold, the platinum to gold ratio is about 2.5:1, a ratio also not seen since the early 1970s. Good time to buy? Looking online, the best price I found is about $800 for a Pt Eagle (about $200 premium to spot). Or is platinum too linked to the automobile industry to shine again?

Night Hawk

Moo... I said Moo!

Comments

  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭

    finding physical right now is a task

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmski52jmski52 Posts: 22,863 ✭✭✭✭✭

    Apmex was offering a roll of 2020 Plats @ about 25% over spot, but now it's 29% over spot on "pre-sale" status.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • jmski52jmski52 Posts: 22,863 ✭✭✭✭✭
    edited March 19, 2020 11:22AM

    I view platinum almost the same as silver in terms of the current disconnect between spot price and retail price. The premiums escalated as the price dropped and nobody is selling at anywhere near spot.

    Where silver also has a monetary component in its price, platinum does not - so platinum is somewhat more reliant on the automobile industry and other industrial applications than is silver.

    Good time to buy? I think that the answer to that question depends on your cash position and how long you are prepared to wait it out. Obviously, the time to sell would've been a few months ago.

    I think it's going to be a little while longer before it becomes a good time to buy platinum. Maybe 6 months to a year, maybe more, before weak hands begin to let go, and before the premiums subside.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭

    https://www.apmex.com/product/196120/2020-1-oz-platinum-american-eagle-bu

    their spot: 594.80

    Quantity Check/Wire BTC/BCH CC/PayPal
    1 - 9 $799.79 $808.12 $833.11
    10 - 19 $794.79 $803.07 $827.91
    20 - 99 $789.79 $798.02 $822.70
    100 + $784.79 $792.96 $817.49

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • bronco2078bronco2078 Posts: 10,228 ✭✭✭✭✭

    Why are people so anxious to leap off the nearest cliff ?

  • bidaskbidask Posts: 14,017 ✭✭✭✭✭

    @bronco2078 said:
    Why are people so anxious to leap off the nearest cliff ?

    Because they need CASH

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • MilesWaitsMilesWaits Posts: 5,356 ✭✭✭✭✭

    I dug out a sealed box not knowing what was in it from the Mint, so I opened it, it is a 2010 platinum proof.
    I paid $1792!!
    Ouch Ouch Ouch

    Now riding the swell in PM's and surf.
  • MilesWaitsMilesWaits Posts: 5,356 ✭✭✭✭✭

    On a positive note, there’s no copper spotting.!

    Now riding the swell in PM's and surf.
  • jmski52jmski52 Posts: 22,863 ✭✭✭✭✭

    I dug out a sealed box not knowing what was in it from the Mint, so I opened it, it is a 2010 platinum proof.
    I paid $1792!!
    Ouch Ouch Ouch

    By virtue of "the 10-year rule", it's free money! :)

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • shorecollshorecoll Posts: 5,445 ✭✭✭✭✭

    It's funny that Platinum is a historical "precious" metal while Palladium is not, industrial use is likely causing the disconnect. , I still believe that someday in the future Palladium will crash hard, though I may not be alive to see it. If there actually ever is a forced shift to electric cars, that should do it, but who knows.

    ANA-LM, NBS, EAC
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    I'm still pro-platinum !!! ;)

    Timbuk3
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