Gold-platinum spread now $400!
Overdate
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Gold $1349, platinum $949. This is the widest spread I've ever seen. For a long time, platinum sold at a substantial premium to gold, now it's falling further and further behind. Even if industrial demand is down, I would expect that at a low enough price jewelry and investment demand would take up some of the slack. After all, platinum is many times scarcer than gold.
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My last significant purchase was platinum for those very reasons.
I knew it would happen.
Gold is flashy people who want to impress or flaunt wealth wear gold. Platinum jewelry doesn't look much different than sterling silver except to a jeweler .
I mean honestly most people wear jewelry to impress others so it has to be gold. Thats why mr T wore 50 gold chains , he could have afforded platinum I'm sure but who would know what it was or care?
Sure there is keepsake type jewelry , dads school ring , grandma's brooch , mom's wedding band etc. but people already own any family heirlooms they don't need to buy fresh stuff. If they were buying new it would never be platinum .
Platinum jewelry is popular in India and China.
https://www.investopedia.com/etfs/top-platinum-etfs/
http://www.ibtimes.com/not-only-gold-also-platinum-jewelry-massively-popular-china-imports-hit-30-month-high-1436208
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With regard to some cultural aspects -- in Japan, people may prefer platinum because gold is too flashy. Somewhat like -- it's OK to drive a Bentley, because it is too ostentatious to drive a Rolls Royce.
Still just can't bring myself to pay those platinum premiums while gold and silver currently have none. Also had a few fractional platinum coins in the past and it was a bit of a pain to find buyers. Spread between the two is getting awfully large right now.
Plat looks just like silver....gold is still #1. WHen I was in bangkok, gold was being sold and bought constantly daily in the gold market. I saw a little bit of silver, no plat that I was aware of. I did not see anyone asking about silver, it was just gold gold gold.
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Platinum buyers are just reaching for something that is never going to be there. If you want to trade the ETF fine , but the physical metal is a turkey and there 10 different reasons that you will wind up losing money on it. Now if you own a pawn shop and can get it for 50% of melt have at it. But , the same concept will make you money a lot faster with gold and silver. Those two metals will walk through the door 100 times more often.
Just let it go
you know what else is popular in China ? Counterfeit everything you can imagine , platinum jewelry might be good to counterfeit as well. If so rest assured then China is full up with it and its going to be sold on ebay to US buyers , then it will be showing up all over the place .
Gold is always more liquid on the market... silver runs a close second... Platinum?? No thank you... I would take it if given, but would not buy it. And if given, would sell it for melt and buy gold. Cheers, RickO
The only Pt I own. Not worth close to what I paid but she sure is purdy to look at!
They toned down the reverse design of that 2016 Plat, making her face harder and obscuring the female form a little bit more than necessary, so I’m only lukewarm towards the design. At least the proof Plats still allow for some degree of artistic expression in spite of the pc influences of design-by-committee.
I knew it would happen.
Platinum is admittedly a lot less liquid but anything is liquid, depending on the price. It also tracks along with silver fairly well, so if silver gets too bulky in larger amounts, platinum does buffer the volatility in a metals portfolio similarly as silver without having to worry as much about secure storage or concealment.
The lower liquidity is a risk which is reflected in the pricing at these lower price levels, so getting beat up on the sell side is only the flip side of getting bargain prices when the price is low, like right now for instance.
I knew it would happen.
Platinum as jewelry has the premium of being harder to work with due the higher melting point. Seems no matter how low it goes its always expensive. Can argue its a little duller than silver too so doesnt look as flashy. And since its denser you also need 2x more than silver to achieve same sizes.
1.45 Gold to Platinum ratio is about the most extreme that I can ever remember, which is why I bought 10 Maple Plats not too long ago for the first time in 22 years. Something's going on, but I'll be the first to admit that I have no idea why or what it is.
I knew it would happen.
Palladium is currently $53 higher than Platinum. Makes sense to be buying Platinum now.
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The ratio of plat to gold is the lowest in 36 years.
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Shell ever brings back Platformate, we will all be rich!
I think it is news about future drop in platinum demand due to electric vehicles.
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It's Palladium that should get killed by the EV switch, most platinum these days goes into Diesels (I think). The funny thing is the only reason Palladium is used is because Plat got too expensive.
platinum was over 2,000 at one time, a lot of people got burned. I don't like the metal myself, don't have any platinum coins