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View Full Version : Dumping Pt for Ag now



Mozart
05-16-2008, 11:13 PM
<g> Gotcha.


No, I'm not selling any of my Pt anytime soon. Payday is arriving soon. None too soon. I earned it. I suffered enough for it. I'm ready for it.


And congrats to all youse Pt owners out there who stand to get their payday also.

nevadagold
05-17-2008, 10:11 AM
Your back over breakeven now. Hang on for the ride. When Platinum reaches $3000, silver will probably only climb back to $20. Silver sellers continue to hammer that market. Couldn't even break over 17 this week while gold cleared $900 and Platinum back over $2100. More bad news for silver bulls continues :(

tampa78
05-17-2008, 11:52 AM
Interesting how you say silver will only hit 20. In percentage terms that is a nice gain.

Frank
05-17-2008, 04:18 PM
Actually will silver be better than Platinum ? Please educate me as I really do not know.

assesingsit
05-17-2008, 04:27 PM
I'm wishing you the best Mozart you need the up.

Mozart
05-17-2008, 07:42 PM
I'm wishing you the best Mozart you need the up.


Thank you, assesingsit, for your kind sentiments.

assesingsit
05-17-2008, 08:01 PM
Thank you, assesingsit, for your kind sentiments.

Ya know when I read the thread title I did have to look thinking,,,, what now!? !

Your Gotcha worked,,,,,,,,
Go Metals

metal3
05-21-2008, 01:13 PM
Hi Frank,

Here's one perspective:

http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=53202&sn=Detail

Supply v. demand and anticipation thereof essentially. High Pt. volatility interludes no doubt, but a more perfect Pt. storm would be unimaginable if such was written as fiction before January.

Silver outperformed other precious metals early in the bull run, but then SA (78-80% of global Pt. supply) ran out of power, and the solution appears further and further off. No power for further exploration. Angloplat (40% of SA Pt.) and Implat (30% of SA Pt) mines are getting too deep (hot) to run without expensive refrigerated air intake being pumped in. (Unlike the SA gold mines the younger geological Platinum mining area is much hotter at a shallower depth). Presently the above ground winter (May-June) doubles the demand for heating electricity throughout SA (oddly enough the inland northern plat areas have colder winters even though closer to the equator, than the coastal areas due to trade winds).

Including one other large Pt. company only these few major SA companies have smelting facilities to process Pt. from ore. The "juniors" have to pay one of them to toll process their ore if they do actually get it out of the ground. Those with preexisting agreements are in luck. Otherwise smelting capacity is close to maxed.

The list goes on and on and on and on which has been dutifully posted by the members here in other threads.

The "Eskom in the News" posted on the SA power companies site (Eskom.com)
gives the latest twists and turns in the incredible saga on a daily basis.

tampa78
05-21-2008, 07:20 PM
the interesting thing about alot of silver is that you can sell (rather easily)way over spot if you need to. That can't really be said for the majority of plat. Of course there are certain special years etc.. but as a whole, plat does not get that kind of treatment and you are lucky to make a few bucks. Just MO

metal3
05-21-2008, 09:29 PM
Perhaps, but there is a second year of projected substantial deficit RIGHT NOW which is what I'm referring to, and no alternative source for catalytic converters for which regs are becoming more stringent if anything, exist. Palladium at 3 to 1 by weight is viable for a portion but Russia is too unreliable as exhibited in 01 and the Ford fiasco. Reclamation facilities aren't recovering much presently. Zimbabwe's potential seems no match for the 78% SA concentration. The enormous amount of platinum on the moon seems awhile away. I don't know when the auto makers will lock in but there probably won't be enough. I test sold a single ounce for $2,150 to my local seller/buyer which I bought for $1,600 when it was $1,550 months ago (slabbed PCGS MS-70, no premium either way by agreement presently if he has no MS-69s in stock). I'm very fortunate that there's no sales tax here nor more than a mile to drive. Volatility admittedly creates a wider gap for the PGM's, but I also get to decide when to buy or sell and I want my convenient local suppliers to remain as happy and prosperous as I have been. Storage (and portability) is also simple.

Oddly there's little in the way of 10 oz bullion silver here locally presently. I made quite a bit on the initial silver run. Then converted to almost 100% Pt and a few of the 5 nines .99999 Maples as there could be long term numi value as its not the same gold and while there are not alot of extra gold atoms the technology to refine to that purity level at $40 over spot validated minor numi spec over time (which I very rarely do much anymore). They're chemically not the same as other 24K coins as you know.

While looking at the historical charts for Rhodium it does cross my mind, "What happens if Pt. runs out in the short term?". Runs out!!!. (besides even more converter theft - note - duct tape and single edge razor blades prevented a second car stereo theft from my car as a teenager in the late 70's - the mess would be easier to hose off on the exterior than the inside too).

Don't get me wrong, I personally like (read love and am highly addicted to) all the PMs and have sorted through tens of thousands of silver coins and without this glorious massive old silver hoard (ect.) at the right time life would be quite different for me now. I will FOREVER regret selling my PCGS EF-45 1795 Flowing Hair Dollar. Bullion doesn't create such attachment to history for myself and thus when it appears time it will transmute or wait for a dip. (which is a benefit of volatility).

In 2003 I remember a dollar or two fluctuation in the less than $300 oz of gold being a big deal. My free checking account paid more interest than a big pile of Au pandas. So yes, these are "special years", or special weeks. Of course I bought alot of gasoline and am just running out of the $3.35 stuff from a few weeks ago. The gas cans have paid for themselves twice.

Best of luck to fellow metal lovers. (especially Mozart!!!)
-and Nevada, all your posts are really great and right to the point! Thanx.

Killver
05-22-2008, 04:40 AM
<g> Gotcha.


No, I'm not selling any of my Pt anytime soon. Payday is arriving soon. None too soon. I earned it. I suffered enough for it. I'm ready for it.


And congrats to all youse Pt owners out there who stand to get their payday also.


Interesting that if you had gotten silver, now you'd be on the lower end, looking up at all the manipulation, which doesn't seem to hit platinum in the same way. Unless silver goes up in the next couple of months, we could be stuck for the rest of the year in this price trench.