Gold $1188, Platinum $1088. = Update: Gold $1094, Platinum $974 =
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The gap just reached $100. What's next?
Edited to add: Gap has widened to $120, even as both metals continue to crash.
Edited to add: Gap has widened to $120, even as both metals continue to crash.
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"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
I know or knew at least a guy that had a big fat platinum wedding band he was very impressed with. It was a thick band and 95% pure, I believe the melt value was around 700 at the time.
In his mind it was much better than gold but the thing that used annoy him to no end was everyone thought it was sterling
Kind of the opposite effect than what he was going for.
I knew it would happen.
Plat chart
I can remember when Platinum used to be considered a precious metal.........
Too rare for its own good. Just another metal for catalytic converters. What happens when they don't need it anymore for that purpose?
<< <i>I know or knew at least a guy that had a big fat platinum wedding band he was very impressed with. It was a thick band and 95% pure, I believe the melt value was around 700 at the time.
In his mind it was much better than gold but the thing that used annoy him to no end was everyone thought it was sterling
Kind of the opposite effect than what he was going for. >>
I like platinum for the reason it annoys him. It pleases me that it does NOT call attention to its lavishness to the point that it can be mistaken for the pedestrian silver. The more important thing is that you are one up on those who do NOT realize the luxury on your finger. Plus, it may be an Asian thing cause platinum jewelry is preferred by Asians.
Although platinum scrap plays a role, there is a finite loss that must be replaced by ever-depleting mines. This seems to tell me that the ratio of aboveground stocks of platinum will continue to shrink in comparison to the aboveground stocks of gold. I don't know if that makes much difference to market pricing now, but someday the depletion factor will probably make a difference.
Platinum is one tough metal, which I believe speaks to it's usefulness in industry. It resists corrosion, electrical fatigue, higher temperatures and is quite tough mechanically. It's a durable catalyst in chemical reactions (lowers the energy threshold requirement in a reaction), which makes it universally useful. I don't think that palladium quite compares to it, and I don't see many general opportunities for replacing it in critical applications.
I knew it would happen.
<< <i>Gold has a long monetary history behind it, and is a good contra indicator of monetary policy. Platinum is a fairly good positive economic indicator (as is silver), in my opinion. One difference between gold and platinum is that gold is stored while platinum is consumed.
Although platinum scrap plays a role, there is a finite loss that must be replaced by ever-depleting mines. This seems to tell me that the ratio of aboveground stocks of platinum will continue to shrink in comparison to the aboveground stocks of gold. I don't know if that makes much difference to market pricing now, but someday the depletion factor will probably make a difference.
Platinum is one tough metal, which I believe speaks to it's usefulness in industry. It resists corrosion, electrical fatigue, higher temperatures and is quite tough mechanically. It's a durable catalyst in chemical reactions (lowers the energy threshold requirement in a reaction), which makes it universally useful. I don't think that palladium quite compares to it, and I don't see many general opportunities for replacing it in critical applications. >>
Word.
I'm buying bits and pieces of gold now. But if Pt comes along at a good price, I'll add it to my stack. Keeping the ratio somewhere around 200:5:1
--Severian the Lame
<< <i>I can remember when Platinum used to be considered a precious metal............. >>
same here
"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
<< <i>During the last run up in platinum weren't the spreads becoming rather large to almost make it untradeable? I kept hearing things like 15-20% spreads. No thanks if that's the case. >>
Speaking of spreads the spreads on palladium bars are surprisingly tight At Provident 1 oz palladium bars $10 over
It's definitely a thinner market, but it's still a viable market. I've never taken a bath on platinum spreads as long as I shop around (both buying and selling). Also, the spread does depend on which way the market is moving. As in most cases when the market is moving up, people want it aggressively, and when the market is stagnant or moving down, it's a longer wait to sell - but there's always a buyer and there's always a price.
I knew it would happen.
<< <i>Love platinum and palladium, its hard to find a deal on it though. >>
Buy that bar I linked to
Its not like there are a million choices either , maples ballerinas or 1 oz bars are pretty much it.
Actually I can't remember when palladium and platinum prices were this close together. Does anyone keep track of the platinum to palladium ratio??
Odd indeed!
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<< <i>Platinum $150 under gold now, and gold ain't doing all that great itself. >>
It's been 6 1/2 years since Pt was sub-$1k and here we are.