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So Platinum is below $1,500 now. Anyone know what's going on?

jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
in Precious Metals
I haven't heard anything specific. Anyone?

It doesn't seem like there's alot of platinum around to buy, either.
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Markets are tanking as the dollar strengthens. It's late 2008 all over again, probably worse. I'd advise stackers to take a look at 2008 charts for their favorites and expect the same. I'm betting against the SP500.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭


    << <i>I haven't heard anything specific. Anyone?

    It doesn't seem like there's alot of platinum around to buy, either. >>



    Nobody wants it?
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • goingbrokegoingbroke Posts: 1,410


    << <i>

    << <i>I haven't heard anything specific. Anyone?

    It doesn't seem like there's alot of platinum around to buy, either. >>



    Nobody wants it? >>

    This is as good a answer as any other!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • pf70collectorpf70collector Posts: 6,641 ✭✭✭
    Like to buy the 2011 platinum proof cheaper. But they will be gone in a flash if platinum falls to $1100-$1300 maybe. Right now they are a little cheaper than the Gold AGE One Ounce Uncirculated.
    Montana State Quarter Die Clash

    Box of 20
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Pretty good indication that gold and silver will fall a bit more.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    Platinum Eagles and other coins are bringing *way* over melt, so it's difficult for small investors to take advantage of today's low prices.

    My Adolph A. Weinman signature :)

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    The coming (Global) recession.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    29% margin hike announced Monday probably takes effect after today.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BigEBigE Posts: 6,949 ✭✭✭
    The volume on trading plat futures was 11,000 earlier, and gold was 184,000. The margins over spot were always too high, its an industrial metal and its so much easier to flip gold and silver--I just dont think people want to buy it or that dealers want to stock it---------------BigE
    I'm glad I am a Tree
  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭


    << <i>The volume on trading plat futures was 11,000 earlier, and gold was 184,000. The margins over spot were always too high, its an industrial metal and its so much easier to flip gold and silver--I just dont think people want to buy it or that dealers want to stock it---------------BigE >>



    I agree.

    Gold, silver and platinum are still the big three PM's, but Platinum is definitely number 3 and quite a distance back of Gold and Silver, in regards to Demand, Investing and Liquidity.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    << The volume on trading plat futures was 11,000 earlier, and gold was 184,000. The margins over spot were always too high, its an industrial metal and its so much easier to flip gold and silver--I just dont think people want to buy it or that dealers want to stock it---------------BigE >>

    True enough. My local guy has some slabbed Plats, but most are NGC which I am boycotting because of their indiscriminate grading on MS-69. Even if he had something I wanted, if his gold pricing is any indication - his platinum spreads would kill any chance of a transaction.

    At the last St. Louis show, I thought I might work a trade with some Plats, allowing a dealer a normal profit on one side of the transaction, but he wanted double his buy-sell spread on a straightforward ounce for ounce trade.

    I'm having a heckuva time finding any of the Plats I still need, but now is definitely the best time I can think of to go out and find them!

    There is a time & place for platinum, but you are correct about the liquidity compared to gold & silver.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BigEBigE Posts: 6,949 ✭✭✭
    Just called my dealer, he said no plat for sale anywhere in the state of Oregonimage-------------------BigE
    I'm glad I am a Tree
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭


    << <i>Just called my dealer, he said no plat for sale anywhere in the state of Oregonimage-------------------BigE >>



    Its scarcity is its weakness.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • SUMORADASUMORADA Posts: 4,797 ✭

    Its scarcity is its weakness.

    image

    The masses do not know Platinum (meaning it's not in the news) they do not know Gold or cannot afford gold, even if it is in the news, they do not know Silver but can afford it and it is in the news.

    JMO
    coins on ebay
  • pmcollectourpmcollectour Posts: 1,211 ✭
    Gold is money.
    Silver is gold's little sister.

    Platinum and palladium are, well, platinum and palladium.

    The price action in both p's will get worse in my opinion.
  • QuartergoldeagleQuartergoldeagle Posts: 62
    Im my bi weekly dealings at show's there just is not any demand for Plat. i dont think i have seen more than a couple ozs. being traded in months ... premium too high $$$

    gary-
    Ebay Seller Americansilvereagle 800+ feedback
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Well, it's back above $1500...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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