Is platinum the better buy at the moment?

Discussion in 'Gold' started by stackmans, Aug 7, 2019.

  1. stackmans

    stackmans Member

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    The spot gold price is soring and yet platinum remains strangely flat. Platinum is rarer than gold and historically more expensive. There is currently massive potential for a correction in the platinum price.

    My question is, if you have money to spend and want some metals with the gold price so dangerously high right now does platinum present the smarter buy?
     
  2. alor

    alor Well-Known Member Silver Stacker

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    palladium is resting
    gold is testing new high
    silver is testing high
    palladium will test new high again

    while platinum can crash, it is avoiding the North and flat out
     
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  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Pt is a higher risk than silver and gold at this point, but I’m not going to wait, getting my Mene pt bands. I didn’t get those because pt was $2k then.

    Anyone also got those 24k pt bands from mene?
     
  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I like mene jewelry also and they have a pretty good thing going. I dont own any but if I were to buy jewelry it would be from them.
    Another difference is that gold and silver are money metals and platinum is more industrial and doesnt react the same.
    Platinum prices can swing by changes in the auto industry but it's not money.
    It's more of a speculative PM I'd say, like coppers role as a base metal. When things are strong and consumers are spending the price can rise. When things get slow and the consumer spends less on houses and cars, the prices drop.
    It's about the most sense I can make of it.
     
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  5. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    If you notice copper spot tanking with the economy as platinum reacts to things slowing and has dropped as well, while the money metals might be going the other way.

    If your a copper or platinum stacker, the better lows might still be coming with the mass car loan defaults we are having and the slowing in the housing and construction sectors.
    Then sell those when times are "good" and everyone is spending like wild feral whores.
    I'm no expert by any means but I pay attention and it seems that way to me.
    Personally I can see both copper and platinum dropping to new lows as things continue to spiral downward and might be a buying opportunity if you see it recovering eventually. That's what I'm expecting at least.
     
    Last edited: Aug 7, 2019
    stackmans and mmm....shiney! like this.

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