Platinum Now at 5 Year Low
So just to brag a little, I picked up some Valcambi 1 OZ bars on 9/20 when it hit the yearly low for $989 delivered to my door. That was about $80 over spot at the time. I almost instantly made the premium back when it bounced off that low the next couple of days. I want to add more to my position but I seems premiums have gone up and it won't really help me dollar cost average down at the moment so I dunno...
Pros: All-in cost of production (includes exploration) is $1100 an oz and when one mining company in South Africa temporarily closed a few months back worldwide supply dropped 25% almost overnight.
Cons: There's currently a surplus and the chip shortage will continue all of next year so demand won't return any time soon.