Platinum breaking out ?

With EV all the hype, a lot of eyes are on "green energy" which, another alternative fuel being hydrogen. I hear hydrogen fuel cells utilize platinum so perhaps we could have some speculation from that avenue. Just a thought... personally I am bullish PGMs due to their relative rarity and real world use cases.

Dieselgate was biggest factor in platinum's fall. But...in some countries, like Germany, diesel is making a slight comeback. And, look at the US - there are more diesel light trucks than ever. So, in addition to potential substitution for palladium in gasoline engines, there is still plenty of demand for use in diesels.

Whether or not hydrogen fuel cells gain traction in personal vehicles, they may still find use in big trucks and locomotives. This has drummed up some investor demand.

Platinum jewelry sales in China went down which also hurt the price of Pt. But sales in India and US are increasing. Here's a consideration... If you want fine jewelry, in white color, that won't tarnish, what should you buy? The easy answer at today's prices is platinum rather than white gold for Pt's relative rarity and discount to gold.

Throw in all the other uses for Pt such as cancer pharmaceuticals, medical devices, flat panels, etc., it has more utility than the other PGMs.

New PGM mines are few and far between. So any mine closings, or interruptions, create a need for industrial users to secure adequate supplies, thus the heavy investment following the recent fall. There is no reason why Pt shouldn't eventually equal, or even surpass, gold in price, as long as the central banks can get away with purchasing many trillions more debt in the near term to stave off a depression.

My local coin dealer friend, well connected in the coin dealer network and pretty savy guy, goes to all the major coin shows. He has been buying the crap out of platinum, told me to buy the crap out of platinum. He believes plat is going to the moon. He's been dead on with his silver and gold predictions. Glad I listened to him in the past when it came to buying gold and silver metal.
I forgot to ask him his reasoning on why Plat will go to the moon.

I bought Platinum ETFs back in October when Platinum was $850.

I got into it mainly because of its relative low price to other PMs, so I just thought it had the most room to run.

$1236 now, up +$54 today.

If it surpasses $1,400 I will call it a breakout.

5 year high. Yes, I think it's breaking out. Caveat, it is platinum. Maybe the reddit gang and Elon should look here, much less supply than silver. ;~)

I don't own a single ounce but PPLT is my largest holding.

mark

https://www.mining.com/web/platinum-palladium-and-rhodium-in-short-supply-johnson-matthey/

Most people probably aren't aware that more palladium is mined than platinum. Since there are way fewer investors in Pd and Rh it probably explains how the two have run so far compared to Pt. But maybe platinum can return to a gold-like price in next couple of years?

Nice jump in price this morning.

$2,500-3000 by 2025.

I just took a peek at one of my Mint sealed boxes and it has a 2015 1 ounce platinum proof that I paid $1200 for so this rising spot price helps, in a symbolic way. I see APMEX and Provident are “low” on Pt.
And Pd is no slouch tonite, either.

Love Plat!

Miles WTF is that? I'm mesmerized!

m

NILSY is a large holding. World's largest producer of Nickle ores. Nickle, Pt, Pd and rhodium.

Platinum gearing up?

https://m.investing.com/analysis/chart-of-the-day-platinum-gearing-up-for-possible-new-highs-200562907