Platinum

Platinum now less than it's been for 5 years. Put paid to any ideas I had that it would follow palladium. Is this an indicator of broader deflation or is it specific to the metal? Silver, platinum - industrial metals cratering. Bewildering.
 
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bit similar platinum and gold
 
Similar alogo's in play to drive prices down as low as possible. The fact that Pt production is down 20-30% this year is irrelevant. When Goldman or JP Morgan can stamp a piece of paper 100oz platinum and people will buy and sell it as if it was real platinum means that mining and production is totally irrelevant. But it will soon end and it will end very badly for the shorts.
 
China is starting to get the message re...pollution.

Looks like low quality coal (dirty coal) won't be purchased. So what does this mean?

Are they cleaning up their act?

Perhaps a communist country can bring-about policy change quickly.

What's to stop China from having a catalytic converter on every new vehicle made?

What's to stop the feel for democracy in China where...every Tom Dick and Harry works for crap wages; one day those folk will want a car, higher wages etc.

Communism is being tested in Hong Kong (The Seed) and imo democracy and Capitalism will spread.

With a growing world population, city pollution and concerns for global warming (Regardless of a person's view) it's a no-brainer that physical demand for platinum will bounce back, it's just a matter of time.

See...although the paper jockeys set the price for metal they do not control the physical need for platinum and for that matter, silver as well.

H
 
Yes, very reasonable points but metal prices have been defying 'reason' for 3 years. Just the fact that platinum is almost back at the depressed price of gold alone. Platinum should be much pricier than gold - it's harder to find, its metallurgy more demanding, its sources fewer and vexed.
Pt the only metal down overnight and you'd have to go back 5 years to see it at this price - all the extra money that has been created in 5 years - squawk squawk
Maybe platinum and silver are vanguards of broad deflation?

Platinum Futures Drop to Five-Year Low on Europe Woes Bloomberg Oct 2, 2014

* signs that European demand is faltering for the metal used in pollution-control devices in cars

* a manufacturing gauge for Germany, Europe's largest economy, slid to a 15-month low

* signs of slowing economic growth in Europe. The region accounts for 25 percent of global demand

* Holdings in exchange-traded products backed by the metal are close to a four-month low

* workers in June ended a strike that disrupted mine output in South Africa

* The metal's 60-day historical volatility last week reached the lowest since February 1997 amid fading investor interest

* U.S. manufacturing in September was weaker than expected
Click to expand...
 
Platinum to gold ratio is almost 1:1 is it time to begin nibbling on the white metal?
I have not seen any reports on Pt since the end of the SA strikes, anyone have any new information on Pt ?

Report by AngloPlat last week for Q3 2014

Platinum ramp up at strike-affected mines (Rustenburg, Amandelbult and Union mines) was completed, with normal production resumed by September. Platinum equivalent refined production decreased by 14% to 532,800 ounces as a result of the post-strike ramp-up and planned lower production at both Rustenburg and Union following the 2013 restructuring
 
1:1 with Gold I think is a better reason to buy Pt than strikes in SA was. Certainly the past volatility of Pt gives it an attractive upside but it isn't easy to move compared with Au/Ag. With an initial cost at around the same price as Au, I'd be happy to wait a bit to move some on in the future if the need arose.
 
Volatility has returned to the PGM group with Pt and Pd up over $20 on Friday to fall $20 Monday. The rumors are reduced PGM imports into China are to blame for today's sell off.
If after visiting China and looking through the murky haze that the population of Beijing call "air" and you still believe that, then you will believe anything. The fall in imports in my opinion (worth nothing I know) is a reflection of diminishing stockpiles and production. South African production has been cut in half this year, so as the producer of 70-80% of global supplies how can we not have stress in the PGM market ?

Buy the dip in PGM :D
 
^^^^
Thanks for the heads-up cobber, Time for me to stack some more Platinum methinks.
 
I think white metals are the future. Unless there are new reserves found we are going to run short of it a hell of a lot faster than gold or silver.
 
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