The last few weeks I've noticed Pt seems to have taken the lead from Gold in terms of moves both up and down, previously it seemed to tag along behind. The gap between the two has also been slowly decreasing in the favour of Pt over Gold in the ratio. e.g. Pt has gone up USD19 so far today as it bolts out of the gate, with gold lagging behind (USD12.50 rise so far today) similar to behaviour I've noticed increasingly in recent days. Could this be because Pt really can't get much cheaper due to the cost of production and demand is making it more difficult for the price to be held down than Au? Whatever it is, it's nice to see all the prices in the green today! (maybe something to do with oil hanging around 1.05?)
I wonder if this might have something to do with it? http://www.bloomberg.com/news/2012-02-16/south-africa-sends-army-to-end-rioting-at-mine.html
Pt on a bit of a run again tonight, up USD $21 (1.22%) while Au up $4.60 (0.24%) Spread is down to $67, wasn't that long ago it was $200! Am I the only one interested in this? :lol: (myself and lunarowl I should say!)
Where is the spread that small ?? I have checked out a few sites previously .. and the high spread was one of the reasons I did not buy.
Think he meant the Gold/Pt spot spread not the Pt bid/ask spread. Just my luck too, sold my platyplatypus and Pt spot goes rocket high.
The best buy / sell spread for Pt that I found back in Jan was at an Adelaide dealer (city gold bullion). Still seems to be one of the better ones with current selling price on 1oz Pt Pamps @ $1695 and buy back @ $1579. The oz's I bought are yet to arrive, but an update today says they are receiving their shipment end of Feb.
Oh ... Buggar then ... The Bid Ask Spread at my local bullion dealer is 1695 for purchase/1579 for buy back ... and thats for a Pt bar. Worse still for a Plataduck coin. However I do need to find a dealer in Aust with a better split than this .. Any suggestions ?? (Disregard if deemed OT) I just read previous post .. surely someone in Australia can offer a better spread than that for either Pt bars or coins ??
