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View Full Version : Why IS platinum solid as a rock?



Heruur
04-23-2008, 09:32 AM
I noticed that Pt is the only metal that is staying near the ball park of it's highs around $2K. Percentage wise it has weathered the correction far better than for example silver, gold, or palladium. Any opinions as to why?

:)

Rooster
04-23-2008, 11:27 AM
the demand is for the most part industrial and the power problems are not going away.

AUfool
04-29-2008, 06:48 PM
...it's "the good stuff"! :D

astraflyr
04-30-2008, 10:31 AM
Cuz it's the one I give the most attention to:rolleyes: I guess I should share some time with my other coins and see if that affects price swings. Maybe play classical music to them?

GoldmanSuchs
04-30-2008, 01:58 PM
South African energy problems

Falcon7
04-30-2008, 02:17 PM
Not to spoil your party but most of the time I check the charts I see silver gaining most by percentage, not platinum or palladium, that's why I switched to silver from white metals.

AUfool
04-30-2008, 02:46 PM
Not to spoil your party but most of the time I check the charts I see silver gaining most by percentage, not platinum or palladium, that's why I switched to silver from white metals.

Palladium...I agree with you. It was a good idea to get into Pd for about a two week period in February. That is, if you got out in mid-March! At all other recent times, Pd has been a lousy investment. It rode the coat-tails of Pt for a short while. Those who bought in at $500-$600 lost their butts and won't be seeing their break-even point for some time to come.

Platinum...I don't know when you're checking the spot price but if you look at the averages, Pt has held up far better than Ag. The Pt/Ag ratio was around 100 average in mid-March; now it's what...1931/16.80 or about 115/1.

Falcon7
04-30-2008, 03:59 PM
Platinum...I don't know when you're checking the spot price

No offence but seems this way everytime I check the Kitco charts and recently I check them often. For example at this moment silver is up 1.94% while platinum only 0.31%. I used to be all platinum just a couple of weeks ago and made well but I switched back to silver after making this observation and after the news that silver may cut into cat. conv. business by 2012. I do expect Pt to have a nice run in May due to winter in S.A. but in longer term silver is going to outperform platinum and likely gold IMHO.

nevadagold
04-30-2008, 07:42 PM
No offence but seems this way everytime I check the Kitco charts and recently I check them often. For example at this moment silver is up 1.94% while platinum only 0.31%. I used to be all platinum just a couple of weeks ago and made well but I switched back to silver after making this observation and after the news that silver may cut into cat. conv. business by 2012. I do expect Pt to have a nice run in May due to winter in S.A. but in longer term silver is going to outperform platinum and likely gold IMHO.

It looks like you fell victim to Mitsui's game plan. If you did your research, you would find that platinum has outperformed both gold and silver since the PM complex bottomed out at the turn of this century.

AUfool
04-30-2008, 07:52 PM
No offence but seems this way everytime I check the Kitco charts and recently I check them often. For example at this moment silver is up 1.94% while platinum only 0.31%. I used to be all platinum just a couple of weeks ago and made well but I switched back to silver after making this observation and after the news that silver may cut into cat. conv. business by 2012. I do expect Pt to have a nice run in May due to winter in S.A. but in longer term silver is going to outperform platinum and likely gold IMHO.

Falcon7 your story isn't very consistent and it just doesn't ring true.

Last week, on the 23rd, you said you had just that day sold all your Pt for Ag and that you had been 100% Pt. Yesterday, you told us you had just dumped all your Pd for Ag. Here you are saying you sold two weeks ago and had been "all platinum". In another post today you are telling us you have made great profits in silver since you switched out of PGM.

Silver has done nothing but dive over the past two weeks...every day except today. Are you spinning wishful tales here or are you on another planet entirely? Please explain!

Falcon7
05-01-2008, 01:30 AM
Aufool said:
Last week, on the 23rd, you said you had just that day sold all your Pt for Ag and that you had been 100% Pt. Yesterday, you told us you had just dumped all your Pd for Ag. Here you are saying you sold two weeks ago and had been "all platinum". In another post today you are telling us you have made great profits in silver since you switched out of PGM.

Silver has done nothing but dive over the past two weeks...every day except today. Are you spinning wishful tales here or are you on another planet entirely? Please explain!

Well I feel like I am called to confession. Yes, I was all Pd for about 2 years, then I switched to silver. I think it was in March. I made some money when silver jumped, sold it and bought platinum for $1975 and sold it when it was over $2020 recently and bought silver. I think it was around the day when anouncement came that silver is going to cut into cat. converters market by 2012. I can check the dates of all these transactions at my pool account but what's your point?

The point I was making is that anytime I check the charts at Kitco I see silver gaining more by percentage than other PMs, including platinum (and it is also holding its value pretty well when all are in the red recently). I am sure there are exceptions but as a general rule silver seems to do better. For example right now (8.30 AM in Europe) silver is up 0.53% while platinum is down 0.36%. Checking at 9.46 AM. silver is up 0.06%, while platinum is down 1.14%! Checking at 10:05 AM. Silver is at 0.00% while platinum is down 1.24%. Checking at 13.40 PM: silver down 0.95%, platinum down 2.17%

I rest my case.

Mozart
05-01-2008, 08:16 AM
...pizz'n me off. No fundamental reason for this!


Fwiw, my psychic friend said in the third week of April that the Pt market would not pick up at the end of April as previously reported and that it would go into a 5-week sideways run with some downsides from the start of April, so that 5-week sideways run ends around May 7th, or so. That was just a preliminary report. She'll do some deeper look-see this weekend when I will ask her to do so. We'll see what she comes up with now, as probability dynamics change constantly, but, so far, she's been spot-on with all of her predictions.


But note that, even though she had predicted a run up of Pt starting at the end of April, in the start of the third week of April, she got a different sense of the Pt probabilities and reported to me then that the run up of Pt would not start at the end of April, but that it would go into a sideways run for 5 weeks from the end of April, but she said that this was just a preliminary report, but, so far, she's called it right.


I'm in a position in which I may have to sacrifice some Pt in order to make some moves in my life locally and it just chaps my azz to no end that Pt is down so far. I'll do everything that I can in selling off whatever I can to avoid selling off any small amount of Pt to raise cash.


In South Africa...now, as of May 5th, they do not plan to do any more load-shedding, so that will be a heck of a lot less of a strain on the economy, but that will be more of a strain on the power-generation system, as it's getting colder and colder, with an attendant rise in power demand for heat. I suspect that they'll still load-shed just to avoid a collapse of the entire electrical grid if the demand threatens to exeed supply at any moment.


I'm so busy with things going on in my life that I will not have the time to spare/waste reading up on things going on in South Africa. I'm tired of watching, waiting for Pt to go back up, so I'll be buying Ag left and right with whatever I can get while I wait for Pt to shoot back up to at least break-even points for me so that I can get the heck out of it and back into Ag, which is where I want to be anyways.


I expect Ag/Au to continue to be suppressed all the way to Aug/Sept of this year; only Pt has a good chance of doing a fast, strong burst to the upside, based on interruptions to supply in the next few months, so I'm willing to hang on to Pt to...mid-July at the latest, then I will want to make my switch-over back to Ag, hopefully not at a loss. So, if somebody can cast some voodoo on a power plant, I'd appreciate that.<g> /joke

AUfool
05-01-2008, 08:34 AM
I keep sticking candle wax and pins into the electrical outlets around the house here but, so far, it hasn't helped any of Eskom's facilities melt down. :eek:

Could be we here in Washington state USA aren't on the same grid as them, huh? :cool:

Mozart
05-01-2008, 08:50 AM
Could be we here in Washington state USA aren't on the same grid as them, huh? :cool:


Lol. Maybe, maybe not the same grid?:rolleyes:


Congrats, btw, on your accurate stand on the Mitsui crap. You have earned the right to say "I told ya so!".


I'm about to buy a used, late-model truck, a 4x4, crew cab, diesel (with Pt in it, of course!), one-ton with a cab-over shell on it and a strong-arsed safe bolted into the cab-over where the stove would be. I eat only raw foods, so I don't need the stove. This'll be a great way to convey PM for ladies who want to invest into physical, but are scared to handle so much cash/metals, rightly so, as anything could happen when they are on the road, anything. But in a big, strong truck, with a big, strong dude and the stuff locked into a fire-proof, theft-proof safe (at least VERY theft-resistant), there's no better way to safely get the metals. You'd be surprised with how many ladies out there who want to invest, but are afraid to. This truck is why I want to sacrifice some Pt to use as a down-payment for the truck.

AUfool
05-01-2008, 08:55 AM
...You'd be surprised with how many ladies out there who want to invest, but are afraid to. This truck is why I want to sacrifice some Pt to use as a down-payment for the truck.

Gonna give old Wells Fargo, Brinks and Loomis a run for their money huh? Sounds like you've got quite the plan, there, Mozart! You young guys have all the fun! ;)

Saw an auction on ebay last night for a fully bulletproof Cadillac for $80,000...probably too flashy, huh?

wrestlingbulls
05-01-2008, 09:22 AM
platinum has been solid for awhile but its going back down into the 1500's by the end of month.

AUfool
05-01-2008, 09:25 AM
platinum has been solid for awhile but its going back down into the 1500's by the end of month.

I'd be willing to bet that it will not go below $1750 this month.

wrestlingbulls
05-01-2008, 09:31 AM
I'd be willing to bet that it will not go below $1750 this month.

just going off from what i just heard this morning from a coinshop owner and what he is hearing. its not sounding good for metals one bit and they are all heading back down to what they were worth last year.

Mozart
05-01-2008, 10:04 AM
Saw an auction on ebay last night for a fully bulletproof Cadillac for $80,000...probably too flashy, huh?


I'll buy it only if it's pink on the outside with Zebra-skin seats on the inside, complete with big, foam silver rounds hang'n from the mirror. :cool: Oh, and a hot tub in the trunk.


And $1,500 Pt? NO WAY! I'll go with AuFool's bet that it won't go below $1,750, but, sheeeeeesh, even that is too low. Come on South Africa, somebody's gotta mess up down there, somebody. There's too many incompetents running the show down there. Something's gotta give, something, sheesh.


All the more reason for me to get my truck and move as much metals as I can to build up a big Ag stack so that I can sell off the Pt stack at whatever and not lose too much.


And, if you call 48 yrs of age being "young", I'll take it, though I do look like some dude in his 30's, so I'm told.

nevadagold
05-01-2008, 10:18 PM
sounds to me that a lot folks got into platinum for the wrong reasons. you have to study the charts and understand that the precious metals have been in a strong bull market since 2001 and there are gut wrenching corrections all along the way. you have to decide if you are an investor or a trader. if you invest then think long term like many years ahead. $6000 is what I personally expect. In the short term, $1700 is a given reality that some may have to just accept or step out of the way and stay in cash. The metals bull is a very long term ordeal in my view so if hoping for a complete failure of the SA power grid is what people are hoping for, then that is exactly the wrong reason to be involved in platinum.

AUfool
05-19-2008, 03:10 AM
platinum has been solid for awhile but its going back down into the 1500's by the end of month. (May 01, 2008)

Bwaaaahhhahahahahahaha :D

Platinum, as I write this ribbing, is pushing rapidly toward $2200 ($2170 at the moment) and it's only the 19th! What the heck...you're only $600~$700 off...

We saw the low for the month already and I bought more pretty close at $1900. No regrets so far. Every ounce of PMs I own is waaaaaayyyyyy in the black.