Platinum spot is almost equal to spot gold, as of now $5 separating them which is quite remarkable as just a month ago there was almost $80 difference. Platinum has been on quite a run.
And gold has had quite a correction.... The next move up will be good for both metals and for poor cousin silver.
Yeah we were all mad if buying any gold when there was a realistic Platinum option. In my opinion the case for Platinum over gold is overwhelming when they're at a similar price, let alone Pt cheaper. It's like herd behaviour going for gold and it's hard to convince yourself that given bit of time Pt will again beat Gold. Especially looking at the Pt chart - it wasn't really a buy, and now it's getting to look like a buy. Yet after all, herd behaviour is a big factor in the pricing of gold so you can't just dismiss it because of some fundamentals that favour platinum. Chart looks good especially if we get the more normal bullish situation of price being over 50 day moving average and 50 dma being over the 200. Here on the weekly chart the 10 week and 40 week moving averages are used. On the weekly chart its not looking overbought and could be (probably is) consolidating for another leg up. On the daily chart it has been coming off overbought momentum condition this month after strongly overbought conditions in late Jan and through Feb.
Yes, it is. http://forums.silverstackers.com/message-23469.html#p23469 Section 40-100 in the GST Act, in conjunction with paragraph 13-10(b) in that Act, provides an exemption for precious metals. The term 'precious metal' is defined in section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999 (the GST Act). The section provides that 'precious metal' is: 1. gold (in an investment form) of at least 99.5% fineness; or 2. silver (in an investment form) of at least 99.9% fineness; or 3. platinum (in an investment form) of at least 99% fineness; or 4. any other substance (in an investment form) specified in the regulations of a particular fineness specified in the regulations. There are three components to this definition. * Firstly, the substance must be gold, silver, platinum, or specified in the regulations. * Secondly, the substance must be of at least the specified fineness. * Thirdly, the substance must be in an investment form. No regulations have been made to specify any substance other than gold, silver or platinum. To be precious metal for the purposes of GST, the metal must therefore be gold, silver or platinum. The requisite fineness is clear from the definition.
I did attempt to do a silver/platinum swap when pt was really down, but for some reason nobody would sell their platypus coins at spot... damn!