Gold Dragging Platinum Upward?!?

RichR

So does anyone else notice that despite continued weakness in the indistrial sector, especially autos, that platinum seems to be maintaining a +/- $60 premium on gold and has continued to rise in tandem? This wasn't widely expected as many expected platinum to continue to decline on industrial weakness and for its price to invert relative to gold...but that's not happening.

I'm guessing that platinum's intrinsic store of value is finally being recognized as an alternate store of value as gold supplies have become increasing tight...the only question is if this trend will continue? Also, with the price of gold and platinum relatively close, I'm also thinking that some jewelry purchasers are selecting the usually considerably more expensive white metal for their rings and things.

And before anyone says to take it to the PM forum...we're of course talking about the value of gold and platinum COINS here!

notwilight

I'm still not buying the prediction that we will never manufacture another car. Lets start a poll to see how many forum members plan to never buy another car....

RichR

And would those be more emissions friendly, new catalytic convertor type cars containing lots of plat group metals?!?

notwilight

<< <i>And would those be more emissions friendly, new catalytic convertor type cars containing lots of plat group metals?!? >>



Not really IMO. The catalytic converter does very little to help emissions on a properly running car. They are a regulatory requirement. --Jerry

coinspeak

what else will we need to use platinum for.
I mean really need it for what?

That's the million dollar question.

RichR

It's funny how people gladly buy plat wedding bands and engagement rings...and other diamond settings...but get funny about using it for other types of jewelry...odd.

And it really is quite a bit more scarce than gold.

DUIGUY

<< <i>I'm still not buying the prediction that we will never manufacture another car. Lets start a poll to see how many forum members plan to never buy another car.... >>



My 68 Ford is still ramblin!

CertifiedGoldCoins

Platinum has other uses than "just" catalytic converters. LINK

PerryHall

Will the new electric cars that will be coming out in a few years require platinum?

clackamas

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<< <i>And would those be more emissions friendly, new catalytic convertor type cars containing lots of plat group metals?!? >>



Not really IMO. The catalytic converter does very little to help emissions on a properly running car. They are a regulatory requirement. --Jerry >>



Just remove yours, sell it for scrap, and then try to pass emissions.

dac076

This is a good question for the pm forum.

Overdate

Platinum does play some role as a monetary precious metal, reflected in the fact that several countries strike platinum coins. The question is, if industrial demand disappeared, what price for platinum would be appropriate for the remaining jewelry and bullion coin demand?

I think low-mintage U.S. platinum coins make sense as a supplemental store of value in addition to gold. If the price of platinum goes down, it becomes more affordable to collect platinum coins, creating new demand for the keys. If the price of platinum goes up, so does the underlying bullion value, which helps support the price of common and key dates alike. Also, for those concerned about such things, platinum coins in my opinion are less likely to be confiscated than gold coins.

notwilight

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<< <i>

<< <i>And would those be more emissions friendly, new catalytic convertor type cars containing lots of plat group metals?!? >>

Not really IMO. The catalytic converter does very little to help emissions on a properly running car. They are a regulatory requirement. --Jerry >>

Just remove yours, sell it for scrap, and then try to pass emissions. >>



I used to drive a 300zxtt. I never bit the bullet and gutted mine, mostly because I just don't see myself as a lawbreaker. But I have friends who did and it made no difference on their emissions on a warm engine (the way they are tested here in CA). --Jerry

edit to be clear: they still passed with low numbers.

clackamas

<< <i>

<< <i>

<< <i>

<< <i>And would those be more emissions friendly, new catalytic convertor type cars containing lots of plat group metals?!? >>

Not really IMO. The catalytic converter does very little to help emissions on a properly running car. They are a regulatory requirement. --Jerry >>

Just remove yours, sell it for scrap, and then try to pass emissions. >>



I used to drive a 300zxtt. I never bit the bullet and gutted mine, mostly because I just don't see myself as a lawbreaker. But I have friends who did and it made no difference on their emissions on a warm engine (the way they are tested here in CA). --Jerry

edit to be clear: they still passed with low numbers. >>



Tiss rue on a warm engine, they only really work well when they are really hot.

HalfStrike

I think it costs more than $800 an ounce to mine platinum so most people won't sell under that. That is probably the level that is holding platinum similar to what oil prices are doing. People look at the costs and see value at these levels.