[youtube]http://www.youtube.com/watch?v=XEGHngpLXmg[/youtube] Get the Platinum Report: http://FutureMoneyTrends.com/PT
Watched it. And the one with Keith (CEO First Majestic) where he states that silver is being tested to replace platinum in catalytic converters. Also hard money people ignore platinum because only gold and silver are money, platinum is just too rare and with little historic significance. You know I've always thought that if stackers globally bought just one ounce of platinum a year for 2-3 years we could seriously and irreparably disrupt the market. The rarer the metal the less it can be controlled at cheaper prices. Should be a campaign "Crash bankers buy platinum", now that'd probably work.
Maybe Platinum is 20x rarer than Gold above ground at this very minute but it's found at a average concentration 25% more abundant than Gold, covered this in an earlier post http://forums.silverstackers.com/topic-35577-another-look-at-platinum-pt.html. Considering the volume of Gold produced that means there is a heck of a lot more Platinum still left below ground. It's found as PGM (Platinum Group Metals) which are much more costly to refine than most other metals, I like Platinum at this price for that reason, however I like Rhodium even more atm.
The silver catalytic converters don't work nor do the graphene-cobalt ones. At this time and for the foreseeable future Pt, Pd and Rh are the only ones that do work. So either you use them or you choke on the fumes. SA production is down 25-40% (no one knows exactly). After last years 8 month strike and almost complete decimation of the Pt reserves there is not a lot standing between clean air and smog. Pt will have its day again - rare + needed = profit.
True, but you don't need much of the metal to make catalytic converters, recycling is almost 100% and electric vehicles don't need it at all. I'd call Palladium as a slightly better long term prospect, but I agree Platinum won't go much lower. Also interesting to note how the price of those three metals which were wildly different are now pretty close to the same. Don't expect any of them to go through the roof, but they're all good solid investments.
No you can't recycle Pt from catalytic converters that don't exist. As most of the new vehicles with converters are replacing older cars trucks and especially 2 stroke motorcycles in Asia - these old vehicles they replace have no converters. So there is a very real need for Pt. Also, remember diesel motors must use Pt not Pd.
At $220/oz cheaper than gold in AUD right now, buying platinum is like buying discounted gold. That said it needs to be weighed up against the silver ratio - which honestly I don't track as much as the GSR. But if I were I the market for gold today, I'd be buying platinum instead.
