Discussion in 'Platinum' started by hem9, Nov 18, 2011.
Cheap compared to gold, but risky when weighed against its tight ties to industrial use. I own platinum, and it looks like a buy, but it could also get hit if conditions worsen. I'll wait and see if it dips further before adding any more.
I found the article below interesting:
Nov. 15, 2011. LONDON (MarketWatch) -- Gross demand for platinum is expected to rise by 2% to 8.08 million troy ounces this year, close to pre-recession levels, as industrial consumption climbs to a new record high, although the global market should still register a modest surplus after a jump in mine supply, specialty chemicals company Johnson Matthey PLC said Tuesday.
In its annual interim review, Johnson Matthey forecast the global platinum market to be in surplus by 195,000 ounces in 2011, with supplies of platinum tipped to have risen by 6%, to 6.4 million ounces.
Still, it said consumption is likely to have rebounded to levels not seen since 2007, as a recovery in demand for autocatalysts and industrial applications like glass and petroleum refining, drive increased sales of the precious metal. Johnson Matthey said purchasing of platinum for industrial applications is forecast to set a record at 1.96 million ounces this year.
The company said it expects the market surplus, however, to continue into 2012, as slowing economic growth drags demand lower and mine production flattens.
It forecasts an average price of $1,650/oz over the next six months. It said the market could possibly trade as high as $1,800/oz, and that physical buying is likely to put a floor under the price at $1,450/oz. At 1312 GMT, spot platinum traded at $1,627.20/oz.
Looks like I bought the missus a platinum ring at the right time then.
My current "buy" order: Silver, Platinum, Gold
Silver, Gold, Platinum
When gold reached highs:
Platinum, Silver Gold
When silver dropped to the low 30s:
Silver, Platinum, Gold
Just wait before buying more platinum, we are in another recession right now, it just takes the market to realise it... What happens when they do is growth expectations are depressed and therefore commodities get hit down
I wouldnt be in any rush to buy, Im not buying anything right now until I see some fall out from Europe
My family (Tom Stacey) found and developed platinum family metals (Osmiridium) here in Tassie in the 1920's. It is easily 10 times harder to find than gold and has always historically sold for more than Gold and now its Cheaper! pfrrrt. The people that manipulate prices need to go get some. They would change their tune in a flash.
Personal Preference, but i dont touch platinum. I would consider a 1oz platinum platypus for novelty, but not as a serious play.
Just wondering.. how many ounces of platinum do you need to make a pair of wedding ring?
One ounce would result in 2 decently chunky rings - 3/4 of an ounce would cover it IMO.
We few PGM Bugs consider Platinum and Palladium to be way undervalued. Peter Schiff in his recent video does not forget to mention Pt as way undervalued and dont forget it. We are all waiting for the big PM move up dont forget Pt and Pd. Next month the PM releases its new platypus 2012 Pt coin.The 2011 (30,000) was sold out. With Pt at $1511 and Pd at under $600 its a good time to buy.
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