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View Full Version : Palladium diving today down $39! / -7.66%



BC_Gold_Guy
03-17-2008, 11:44 AM
Palladium diving today down $39! / -7.66%

Anyone know why?

yikes.

Im glad I only bought 1 bar for $560!

Frank
03-17-2008, 11:56 AM
Platinum also fall -$84 today, I also do know why, South Africa power resumed news again ?

Argiros
03-17-2008, 12:03 PM
Well I dont know, but my speculation is that as industrial metals, they (PGM) are going to be the first to get profits taken when there is economic concern.

I only see this as short term, because after all, they are PM's first, anything else second. So when shorts are out and profits taken, gold and silver will be priced up, the value of PGM as a PM rather than an industry metal will shine.

Though some are calling for pre-feb numbers on PGM's, I don't see that. once a selloff bottom is reached, they will rise again as PM's.

IMPatheticO FWIW

cheers,

AUfool
03-17-2008, 12:09 PM
My guess would be this:

Gold and silver are looked upon more as safe havens, while the PGM group is seen more as a speculative play with recent huge gains and, as the economy tanks, the perception is that these high-tech metals will see demand easing.

So, as the banking and Dow collapse progresses, we may see gold and silver assume more and more of their safe haven roles, while the PGMs falter based on the idea that auto and tech industries will slow.

Just a guess...I sold my little bit of Pd at $400 and most of my Pt at $2075 after making a decent profit on both. I'm thinking gold and silver look more exciting through to summertime, at least.

BC_Gold_Guy
03-17-2008, 12:32 PM
well, it looks like im holding onto that Pd bar for a while. Not that I was planing on selling it anytime soon. All my PMs are here to stay.

BC_Gold_Guy
03-17-2008, 02:35 PM
holy, now down 8.45% !! damn

II Pd
03-17-2008, 02:54 PM
As long as youre in for the long run - Dont worry.

Of course we will get a bumby ride with the unstable US economy.
The fundaments is still the same, give it time and you'll see.

Personally I wont sell any Pd below 1000/oz
If this means I have to wait 10 years - So what? I bought the metal for long term, so no problem.
IMO 1000/oz Pd is still "cheap" compared to its possible future uses.

metalbone
03-17-2008, 03:30 PM
holy, now down 8.45% !! damn

PMs always drop after you buy them...it comes with the territory. If you let them, the price drops will cause you all sorts of grief and make you question your convictions, and even make you kick yourself for buying so high. Of course, this will all disappear then you have a paper profit.

If you have to sell quickly, it's a bummer, but I assume that you bought for the longer term and don't need the money immediately. If so, you should force yourself to not let price drops wreak havoc on your state of mind in the immediate term, especially when you are holding for the long term.

NutFlush
03-17-2008, 06:46 PM
Im lovin it bringing my costs down every new purchase I make. I bought in while we were going up . And Im still buyin going down HAHAHAHAHA. Pms thats the way she blows. Weed the weak and meak out and reap the fruits of others mistakes. Good buy times again.

hugo_danner
03-17-2008, 09:57 PM
Palladium diving today down $39! / -7.66%

Anyone know why?

yikes.

Im glad I only bought 1 bar for $560!

Stock markets all over the world are in red arrow mode. People are selling off assets to cover margin calls, among other things.

Mike C
03-17-2008, 10:59 PM
I wish this metal would go back to around $400 an ounce so I can jump in with both feet! I missed the opportunity when it dipped to $350 a few months back, and knew I would regret not buying in. Now I have some more cash laying in the bank itching to be turned into Pd.....

Argiros
03-18-2008, 09:30 AM
Well Pd is up $25 from 460 to 485, Pt is up $58 from $1938 to $1996 :cool: ;)

Dont let these luny markets fool you lads, these are the MOST preciouses of available PM's. They are here to stay.

AUfool
03-18-2008, 09:33 AM
Rhodium is the only metal that can do this:

Argiros
03-18-2008, 09:42 AM
AHAAHAA good one :D :p