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Platinum @ $1,050; Down $100!

RichRRichR Posts: 3,864 ✭✭✭✭✭
in Precious Metals

Ok...I know this is an "industrial" metal...but it's also rarer than gold.

Me thinks this move to the downside is getting way WAY overdone now!

Comments

  • jmski52jmski52 Posts: 22,897 ✭✭✭✭✭
    Me thinks this move to the downside is getting way WAY overdone now!

    Either that, or the auto industry is in for a world of hurt. Either way, platinum will remain a very useful material and it will remain difficult to obtain.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • RichRRichR Posts: 3,864 ✭✭✭✭✭

    Exactly...and when plat jewelry becomes competitive in price with gold...you buy the plat!
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,363 ✭✭✭✭✭
    Don't mine me smartimage comment in the coin thread, Rich image
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,363 ✭✭✭✭✭
    Buying low is the way to go. image
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    I haven't followed platinum, but I do know the 2001 "Secrets of the US mint" talks about the 1 ounce platinium coin being the most expensive coin being made by the mint at the time, at $700.00.

    I also remember hearing about all the unrest and the platinum mines being off-line earlier this summer, probably causing a lot of the recent spike.

    So which way will it go, back towards it's recent high, or continue downward towards gold?
    imageQuid pro quo. Yes or no?
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