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View Full Version : For Those Depressed About The Price Of Platinum...



Serpentine202
03-31-2008, 09:01 PM
... go to Google News and type in "Eskom".

It seems that Eskom is having a lot of problems ...

Frank
03-31-2008, 09:54 PM
Thanks - I am very depressed as I offloaded when it was lowest 2 weeks ago Friday when it crashed and started to pick them back at higher price last week. The price was good until Monday it tunbling down and today Oh My GOD, it dropped so much. Is this the beginning of bear run for Platinum ? Looks like to Ekom's news on the infrastructure not sufficient to support Platinum, wonder how deep it can drop this time ? Anyone and more information welcome. Thanks.

Serpentine202
03-31-2008, 10:19 PM
My first platinum buy was earlier this year (about two weeks before Eskom said that it was increasing the power to the mines by 5 percent and the first drop occurred), then a little more last week, and a little more today. So I've been a little nervous, too, although I consider PMs to be an investment of at least a few years.

From what I've read, Eskom has a variety of problems. The mines aren't happy; they're still not getting all the power they need. The citizens aren't happy; they have to endure rolling blackouts, and Eskom has asked for a massive rate increase. On top of these, Eskom's officers are under heavy criticism for their wages and benefits, and for mis-managing the company.

It wouldn't take much for there to be a power crisis in South Africa, which would likely shoot up the price of platinum.

wrestlingbulls
04-01-2008, 03:07 AM
i figure platinum is going back down into the 1600-1700 soon.

Falcon7
04-01-2008, 05:09 AM
There is no support for Pt or Pd from auto industry. As the industry slows down the white metals will not keep pace with gold and silver. Unless the S.A. situation deteriorates significantly or something bad happens in Russia my advise is to switch to silver or gold before the Spring rally begins or you are going to miss out on as I have holding on to palladium for too long. Gold and silver should reach bottom by the end of the week. It may be best time to buy. I just listened to a couple of advisors on CNBC and read a couple of guys who know o lot about this business. They all think a major rally in gold and silver will start soon. Both gold and silver are at 100 day average touching a Bollinger band with oversold stochastics. This can only mean one thing - a major rally will start in a few days.

Frank
04-01-2008, 08:42 AM
Nice to hear GOLD and SILVER will start bull run again this week as I am losing but holding with great pain. I also hold Platinum, shouldn't Platinum shoot up with GOLD and silver as well ? I heard there are 2 factos, one is Ekom problem which is Platinum positive, another is the recession fear lead to automobile production slowdown which is Platinum negative, just wondering which factos is stronger ? I definitely do not want Plantinum to go back 1500 or 1600 level, that would be horrible. Anyone please advise ?

Heruur
04-01-2008, 10:08 PM
Pt price is fueled by INDUSTRAIAL demand. Only one culture views it as a safe haven asset, the Japanese. This recession is going to be a doozie that will make the 1970's and 80's look like an April fools joke in comparison. It won't hit brutally untill 2009 though.

The maket volitility we see now isn't do to "manipulation" or other conspiracies... It's do to the investers with a deer-in-the-headlights reaction to everything they "know" dissappearing. Thus the near term fundamentals will be net downward for all the PM's, then Gold and Silver will spike first followed by the PGM's. IMHO, My guess is Price of Pt will bob and weave between $1800 and $2K for the beginning of this month then will drop DRASTICALLY when this quarter's auto sales numbers come in, then rebound again as a safe haven asset about mid way through the recession due to Japanese and Chinese stockpiling. I'd say stick to tried 'n true Ag & Au for wealth preservation in the near term! If you can stick it out buy all means get some Pt!

FWIW, I swapped almost all my Pt for Ag and Au at $~2K

ahguahgu
04-02-2008, 01:43 PM
Pt is much more rare and precious and has more industrial use than gold.
There is a lot of surplus gold. We Chinese love Pt.

Serpentine202
04-02-2008, 02:22 PM
Nice to hear GOLD and SILVER will start bull run again this week as I am losing but holding with great pain. I also hold Platinum, shouldn't Platinum shoot up with GOLD and silver as well ? I heard there are 2 factos, one is Ekom problem which is Platinum positive, another is the recession fear lead to automobile production slowdown which is Platinum negative, just wondering which factos is stronger ? I definitely do not want Plantinum to go back 1500 or 1600 level, that would be horrible. Anyone please advise ?

Yes. But think of how good you'll feel when platinum hits 3000 USD.

Hang in there. You haven't lost money unless you sell at below what you paid. Platinum WILL go back up.

nevadagold
04-06-2008, 10:30 AM
No depressed felling here! This correction was a gift. Anyone who stepped up at added more at $1800-1900 range just bought into another corrective opportunity. The top for this run shouldn't end until June so that's when traders could sell of some of their position. I'm still in the $2600-3000 camp before June actually...

NutFlush
04-06-2008, 04:09 PM
There is no support for Pt or Pd from auto industry. As the industry slows down the white metals will not keep pace with gold and silver. Unless the S.A. situation deteriorates significantly or something bad happens in Russia my advise is to switch to silver or gold before the Spring rally begins or you are going to miss out on as I have holding on to palladium for too long. Gold and silver should reach bottom by the end of the week. It may be best time to buy. I just listened to a couple of advisors on CNBC and read a couple of guys who know o lot about this business. They all think a major rally in gold and silver will start soon. Both gold and silver are at 100 day average touching a Bollinger band with oversold stochastics. This can only mean one thing - a major rally will start in a few days.

Lets ee there are 35 million weddings in China alone every year. if 25 percent of those weddings used 1 oz Pt in there rings and bands that equlas 7 million Oz. Or about total world supply of Pt. Now how about fuel cells that need both tthose metals. Lets see China and India are just starting there car craze. So expect to see more consumption of those metals in the years to come. Clearly you have no clue how little Pt and Pd we actuallly mine and how much Future potential there is for both those metals.