Platinum spot is almost equal to spot gold

Discussion in 'Platinum' started by hem9, Mar 12, 2012.

  1. hem9

    hem9 Active Member Silver Stacker

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    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.
     
  2. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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    And gold has had quite a correction.... The next move up will be good for both metals and for poor cousin silver.
     
  3. goldpelican

    goldpelican Administrator Staff Member

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    Pretty sure platinum was $200 below gold at one point recently.
     
  4. finicky

    finicky Well-Known Member Silver Stacker

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    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.

    [​IMG]
     
  5. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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    1$ difference !
     
  6. hem9

    hem9 Active Member Silver Stacker

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    yup from $200 difference to $1, people who bought platinum have done well.
     
  7. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Platinum isn't GST exempt like Gold/Silver

    just sayin'
     
  8. Lunarowl

    Lunarowl Active Member Silver Stacker

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    I thought it is?
    Palladium isn't
     
  9. BlackSheep

    BlackSheep Well-Known Member Silver Stacker

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    Plat in the lead by 30c now - go you good thing!
     
  10. rbaggio

    rbaggio Active Member Silver Stacker

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    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.
     
  11. silvertongue

    silvertongue Member Silver Stacker

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    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!
     

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