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Platinum...why was it so high this summer?

commoncents123commoncents123 Posts: 2,648 ✭
in Precious Metals
and will it go back up? I was thinking of getting a few 1 oz bars from APMEX if they still have them

Comments

  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    There were power issues and geo-political issues where it is mainly mined in Africa that contributed greatly to the runup (ie. the mining was stopped I believe for a bit). If you do some searching probably here and on Google, you will get a lot more info. When the auto industry started tanking and asking for bailouts, people realized it's main use (exhaust systems of autos) would drive down demand, hence the drop.

    As to if and when it will go back up, there are smarter people here than me to delve into that. image
    imageQuid pro quo. Yes or no?
  • OverdateOverdate Posts: 7,016 ✭✭✭✭✭
    If the dollar craters, I expect platinum and just about everything else will go up.

    My Adolph A. Weinman signature :)

  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭
    Because it is a thin market and there were more buyers than sellers.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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