The price continues to fall and I'm really keen to buy some platypus but I believe at some stage it will hit a rock hard bottom and from were I'm looking she has a long way yet to fall and when she hits than it will be one of the next buying oppertunitys of the decade. Drop my little beauty drop.
The goldlatinum ratio is the highest it's been in 3 years: http://stockcharts.com/h-sc/ui?s=$GOLD:$PLAT&p=D&yr=3&mn=0&dy=0&id=p74672308948
Production costs ($1,680/oz) higher than price - how long can this go on ? http://oilprice.com/Metals/Platinum/Platinum-Good-Prices-Are-Not-Enough.html
Platinum is great for industrial uses and jewelry/luxury items. Two things that will underperform in a down economy. Keep waiting. I don't think the gold ratio has anything to do with it anymore as platinum is not seen as a safe-haven or form of money.
I had no idea till recently Pt had gone as low as 800 as recently as 09, from a high of 2000 in 08...stunning decline. I thought I made a great purchase when it dipped into the 1500s a week+ ago. Now I'm definitely out of the Pt-Au game for awhile...Ag is my only option. Still buying once a week at this price, no complaints here. I say buy a tad now Dusty, you don't want to miss a sub 1500 chance in case it goes back over for good. At least keep a good eye out for a rise and get in at 1488-95, which is what I basically did, just 100 bucks higher than you Not too sad though, since I only bought a 1/4, not freakin too much over 25 beans
Totally agree, a down economy won't be good for Pt at all. Will get shot for saying this , but I think the same will apply for silver however it's drop won't be as dramatic a Pt, due to the monetary aspect acting like a little parachute
For me at this point in time its all ag with an occasional au purchase. At 30 usd an ounce that's a bargain, au in the 1600s isn't a bad buy either both have tested higher prices several times. Pt while gorgeous and rare doesn't have as much of the monetary aspect and the premiums are too high. That said if prices continue to drop I could be persuaded to add pt and pd to my stack. However being a relatively new stacker I feel I need to increase my ounces in ag and au and until I have more than 500 ag oz and 8-10 au oz's (I'm maybe half way there) I'm not gonna be looking to buy pt. However whenever me and the mrs. Get hitched our rings will be pt.
I like your thinking. Regarding the wedding rings...might be cheaper at these prices to buy an ounce in bar form in the near future and have custom rings made when the time is right.
Yeah that's what she wants, she has a bunch of gold jewelry already but no platinum, and you know what they say, happy wife happy life!
Pt is falling like a rock! At some point, maybe now, Pt is an excellent value despite the premiums...which I hate btw, it's 1/2 the reason I don't own more. Everything is cyclical. I bet jewelers are buying it. I've checked around and there is virtually no drop in Pt ring prices.
can any bar or coin be melted into a ring in the future? how many grams / ounces are in an engagement ring on average?
Bugger all. You could get three chunky rings from an ounce. Women's rings probably double or more. Jewelry is all retail mark up. Not a fan of jewellery. I don't wear any at all. Not even a watch. You could melt any metal and make a ring out of it if you wanted... You would just look pretty silly asking your jeweller to melt your mercury and make a ring for you tho.. Lol
Where is a good site to buy a Platypus? I checked out Bullion Bourse although they massively over spot...
GP did a group buy on Gold Stackers, you might've missed out though. http://forums.silverstackers.com/message-221330.html#p221330
I like platinum, I just can't bring myself to buy any though, the thought of the equivalent in silver gets me every time.
