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The Decline of Platinum

goingbrokegoingbroke Posts: 1,410
in Precious Metals
We reported just two weeks ago on the declining state of the precious metals markets. We also covered the dismal situation in the automobile industry first platinum hit: burning less gas means you need a smaller catalytic converter
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Comments

  • jmski52jmski52 Posts: 23,018 ✭✭✭✭✭
    The analyst makes a case for lower platinum consumption and then goes on to justify buying a large mining company that is trying to take over a less efficient platinum mining operation.

    The premise has a low coefficient of internal consistancy.

    I like platinum alot as an investment, but I am hard-pressed to certify how significantly demand for it will be down as a result of higher gas prices and higher car prices.

    I can however make a pretty good guess that platinum will continue to be valuable in any number of automotive and industrial applications, and that holding platinum bullion is better than holding dollar bills.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • botanistbotanist Posts: 524 ✭✭✭
    Other than the situation in the auto industry, might another contributing factor to the 10% recent drop in platinum be the shock to the overall Japanese society and economy where platinum jewelry had been so very popular? Who in Japan will be buying platinum when so many thousands were killed and injured, so many are without food, water, shelter, and electric power, and are at great risk from radiation? Platinum jewelry had been most used in Japan of any country.
  • jmski52jmski52 Posts: 23,018 ✭✭✭✭✭
    Platinum jewelry had been most used in Japan of any country.

    True enough!
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OPAOPA Posts: 17,131 ✭✭✭✭✭
    The unfortunate disaster in Japan, might give us a glimpse of what could happen if a SHTF scenario occurs.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 23,018 ✭✭✭✭✭
    The unfortunate disaster in Japan, might give us a glimpse of what could happen if a SHTF scenario occurs.

    Indeed, and the current thinking is that they will have "quantitative easing".
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BBQnBLUESBBQnBLUES Posts: 1,803 ✭
    Boy ! Did Platinum Decline !!!

    Check out this eBay auction with a BIN of $20 image
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