Gold vs. Platinum
RichR
Posts: 3,941 ✭✭✭✭✭
I know...I know...the Precious Metals Forum...
So I'll make this a relevant question...
When was the last time the price of gold [eagles] and platinum [eagles] crossed/inverted?
Me thinks its been quite a while...like at least 5-10 years.
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Comments
<< <i>How long do the prices need to remain depressed before people will start letting loose with their stock? >>
I would guess it depends how desperate people are and what their intentions were when they bought. A collector who bought platinum from the mint this year, will probably just hold long term and keep it in their collection for the chance either plat goes up, or the numismatic value does.
<< <i>How long do the prices need to remain depressed before people will start letting loose with their stock? >>
Similar to the mortgage industry bubble bursting, I think we will see a PM paper collapse in the very near future. Its just reversed. Just as housing was overinflated due to manipulation as well as a "feedy frenzy" that most people were caught up in, PM's are the opposite. The fact that I cannot, for the first time in my life, walk into a bullion/coin shop and buy a few ounces of silver at about 6-10% above stated newspaper prices is all the proof I need to know that paper prices are VASTLY undervalued. Its also commonly thought that there is NOWHERE near enough physical silver to cover every paper contract issued at a given time. The word for the day is MANIPULATION. The bubble will burst soon....and paper prices are much more likely to move up than is physical likely to move down.
Box of 20
What are platinum eagle?
on a serious note..
looks like e-bay sellers are still trying to sell Proof Pt eagles at about 10,000/oz. (1/10th oz almost $1,000)
I just cant believe anyone would be buying.