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What's up with Platinum?

OverdateOverdate Posts: 6,903 ✭✭✭✭✭

Just looked at Kitco, showing platinum up $30 at $896 (!) and all other PMs in the red.
Palladium down $43!
What's going on?

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Comments

  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭

    Can platinum be used in place of palladium?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • HemisphericalHemispherical Posts: 9,370 ✭✭✭✭✭

    Yes

  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭

    @Hemispherical said:
    Yes

    I guess we just answered the OP.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    Perhaps it is closing the historically deep discount to gold. $500 seemed unsustainable.

  • OverdateOverdate Posts: 6,903 ✭✭✭✭✭
    edited April 4, 2019 7:22PM

    @cohodk said:
    Can platinum be used in place of palladium?

    Up to a point. My understanding is that both can be used in automotive catalytic converters, but the converters themselves have to be optimized for one or the other. Platinum and palladium aren't perfect substitutes for each other; if they were, automakers would have made the switch long before the price of palladium had risen so far above the price of platinum.

    My Adolph A. Weinman signature :)

  • ARCOARCO Posts: 4,305 ✭✭✭✭✭

    Remember when Platinum was in the $1900 range? I do. No better way to get poor than to buy metals.

  • OverdateOverdate Posts: 6,903 ✭✭✭✭✭

    Platinum has taken another big jump this morning, up $35 (and briefly over $900) while gold and palladium are down. Meanwhile, silver is over $18 and rhodium is up another $300!

    Interesting day in the metals markets!

    My Adolph A. Weinman signature :)

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    Big $35 bump in Platinum, as Overdate said!

    Did South Africa go to war with Russia, or something?

  • davidkdavidk Posts: 274 ✭✭✭

    @ARCO said:
    Remember when Platinum was in the $1900 range? I do. No better way to get poor than to buy metals.

    Remember when a soda cost 5¢? No better way to go poor than to hold cash.

  • OverdateOverdate Posts: 6,903 ✭✭✭✭✭
    edited September 2, 2019 12:39AM

    At the moment gold and palladium are exactly the same price, $1520.
    And platinum's discount to gold has shrunk from over $700 to $584.
    Silver is holding on to recent gains.
    It seems industrial PM's are all in rally mode.
    Amid all the recession talk, does this bode well for the economy?
    (P.S. Almost forgot, rhodium is now at $4700!)

    My Adolph A. Weinman signature :)

  • bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    nickel looks good maybe someday soon I can unload all these rolls of canadian nickels :#

  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    platinum is up with platinum again today

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭

    'bout time!

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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