Platinum price decline: to invest now or not?

Discussion in 'Platinum' started by TreasureHunter, May 25, 2019.

  1. alor

    alor Well-Known Member Silver Stacker

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    1/2 ounce silver for $208
    we just saw a $416 per ounce equivalent worth of silver being traded wow
     
  2. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  3. Izablenter3

    Izablenter3 New Member

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    Why it has low price? What's the reason? If you could answer this then I can give my right answer to that question.
     
  4. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    In amongst the attention being paid to the runup of the silver spot price and the closing of the GSR, platinum had a nice +4.26% rise yesterday and another 1% so far today to knock on the door of the highest price so far this year

    DB45EBEC-5155-4153-B6CD-3F9F15BCE7A2.png

    F08579DE-BE01-4674-B894-D9F600992F18.png
     
  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I placed an order of a batch of pt bullion less than 2 days ago and now the price has gone up nearly $80 per oz. Looking at the silver surge, I'm considering buy more pt since it's still the cheapest among the 3 metals. What do you guys think?
     
  6. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    I did as well, roughly 2 weeks ago, towards the bottom of the dip this month. Bought a couple of platinum QB coins, can’t wait to see how they look in hand!
    I made the call earlier in the year that I was bullish on platinum and haven’t seen anything yet to say otherwise. At least there isn’t as much a shortage in platinum as there is at some mints for silver :cool:

    I’m seeing a movement towards $950 by the end of the year, so will be well ahead on spot price differential. Intend just to flip those either on the forum or eBay and make a little extra profit
     
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  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    This can only mean pt can go up even more.
     
  8. alor

    alor Well-Known Member Silver Stacker

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    the shorts got caught
    then followed by double sell

    but never know, since the wolf pack survived
     
  9. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Great call. If your liquidity allows, try to keep a couple, when fuel cell takes off, this is a 5-10 bagger.
     
  10. TreasureHunter

    TreasureHunter Well-Known Member

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    So, it's a good buy after all, like I suggested :)

    Not that I prefer it, it's being sold at horrible rates (high premiums) and it's damn hard to sell it (find a merchant who accepts it, let alone pays a good price for it).

    Only invest in this if you have "plenty of fish" (as the banknotes are represented in Peter Schiff's book: "How an Economy Grows and Why It Crashes").

    Stick with gold, silver if you're an average bloke.
     
  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Yes, psychologically, the premium for pt is hard to shallow. This is why is it only a fun buy for me. The buy back price is bad, but the other day I was studying the prices, the premium for pt is not actually much worst than ag here in singapore. ag kilo bars go for around 6% premium, pt ouncers go for 7% premium. Maybe in Australia, you can get kilo ag from the forum so it's at a much lower premium.

    In my opinion, pt is cheaper than gold (when it was 3 days ago at around $860 per oz) but gold seems to be less volatile. That's why i bought pt but not gold. Last gold i bought was around $1420 per oz.
     
  12. alor

    alor Well-Known Member Silver Stacker

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    [email protected]@king at the way they moved, Palladium would reach $2000 faster than gold
     
  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    It appears that pd is tracking pt, maybe pd is pegged to pt? o_O
     
  14. TreasureHunter

    TreasureHunter Well-Known Member

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    ^
    I don't know about "pegging", but they are from the same blood :) To me they're similar.

    But look at rhodium's price: some of you wish you had invested ;)
     
  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I remembered checking out rhodium when I first bought silver a year ago and the price was $2000 or so. I saw the chart and decided it wasn’t interesting. I like to buy things that are 10 year low.
     
  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Just ordered another batch, paying $148 per ounce more than what I paid last Thursday! Most reckless thing I did in quite a while! Hoping for a pull back. :)
     
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  17. alor

    alor Well-Known Member Silver Stacker

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    pd is leading to new high, 1618, will the rest follow ???
     
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  18. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Looking at pd, I think there's more than 80% chance that pt may have bottomed at $800. Pd is a by product of nickel, another base metal. With the coming recession, I can't see how the EV bubble can sustain much longer. If there's a supply shock for Pd, pt price won't fall much regardless of economic woes. The base is already there, so $400 pt likely won't happen?
     
    Last edited: Sep 13, 2019
  19. alor

    alor Well-Known Member Silver Stacker

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    I think Pd would top up at 2k, just like Pt did, could be short squeeze or many many reasons unlike when it top out last time 1.1k
    Pt bottom, may have to wait and see, oversupply situation
     
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  20. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Are Russian pd producers intentionally reducing supply to maintain the higher prices?
     

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