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View Full Version : Below the $1,000 level. This Bites.



refrep
09-30-2008, 07:42 AM
I wouldn't suspect that the price will stay here long. I mean, its almost on par now with the price of Gold. Last time i saw the denominations on a Platinum oz was $100 and a Gold oz was $50. Who knows, maby there will be a switch soon from platinum being less than the price of Gold. At any rate i'm getting bit right now in the you know what. As we all are... Cheers....

Frank
09-30-2008, 07:45 AM
Don't be surprise, it can go down further maybe 600$.

MiamiFlorida
09-30-2008, 07:51 AM
Don't be surprise, it can go down further maybe 600$.

I'm with you, the fundamentals are not in line to maintain support at 1000 and I fully expect to see continued declines in PGM's. I'm cued up with the other vultures waiting for 600's

refrep
09-30-2008, 07:56 AM
yes, if you guys are correct then there is going to be some blood in the streets and the "vultures" will have a grand feast. Good luck to you. I'll be holding mine so you won't scoop that up at least...

Grossomotto
09-30-2008, 09:33 AM
I'll buy Pt at $500, Pd at $100 and any Ag under $15. I like the white metals. :D

ahguahgu
09-30-2008, 09:42 AM
that is the question. Au seems to make the range of 850-900 comfortably. That 100 dollar jump really scared a lot of shorts. Will Pt go below Au? I mean it is much more scarce and much more difficult (cost much more) to extract. Anyone know how much does it cost to extract 1oz of Pt?

Coldtrader
09-30-2008, 10:22 AM
I think the 'big guys' know there are alot of stubborn PM holders and want to get them out and back into the stock market so they can revive the economy.

rstones199
09-30-2008, 11:22 AM
Never fear people, my psychic friend has told me platinum will rebound and hit $3000 by the end of the year! Time to buy is NOW!!!!!!


:p

Platinumb
09-30-2008, 12:39 PM
What was the reason for the surge in Platinum price in early '08? Were there political reasons or news that drove up the price?

astraflyr
09-30-2008, 12:53 PM
The reason for the surge was power problems in South Africa at the mines. It's hard to tell if they've been solved, but now they see a demand problem instead. I'm getting ready to pull the trigger. This is a price I never could have imagined. You guys are saying $600? What a steal!!!! It's such an amazing metal to go for that price.

refrep
09-30-2008, 12:57 PM
What was the reason for the surge in Platinum price in early '08? Were there political reasons or news that drove up the price?

i know the the largest platinum mines are in South Africa. They were having problems with their electricity when platinum hit its highs. I would like to see a strike at the mines until the metal rebounds. That would be very nice... MO

Ag110
09-30-2008, 12:57 PM
Hard to believe Pt was almost $2300 back in March, 6 months ago.....Glad I got out before the free-fall...but I'm watching, if it continues on a downward spiral, I'm back in

goldengoal
09-30-2008, 01:21 PM
I agree with other posters that as the Platinum price goes down, there will be great buying opportunities for all of us. As a newbie to this market, I am wondering what are the best forms to purchase this metal? With online retailers I have seen offerings for Eagles and Maples, and that is pretty much it. Also, it appears these are not minted any more so it's all secondary market now. Is that true?

MiamiFlorida
09-30-2008, 04:29 PM
What was the reason for the surge in Platinum price in early '08? Were there political reasons or news that drove up the price?

South African supply shortage and speculation.

Bobby Dazzler
09-30-2008, 07:04 PM
Let's just pray we do not see $500 Pt.

A buying opportunity it may be, but since I bought in a $1080 it is gonna hurt.

I still feel there is upside; things in SA are never guaranteed to be smooth forever.

Gonna hang on for the white knuckle ride.:eek:

nu2au
09-30-2008, 07:48 PM
If SA goes the way of Rhodesia/Zimbabwe, which it is showing some signs of, we can be certain that the platinum production there will plunge and prices rise.

DowGoldRatio
09-30-2008, 08:49 PM
If SA goes the way of Rhodesia/Zimbabwe, which it is showing some signs of, we can be certain that the platinum production there will plunge and prices rise.

If South Africa disintegrates politically (which is very likely), platinum will go the way of rhodium...and rhodium will go the way of...I don't know what's rarer than rhodium? :D

chrisiden
09-30-2008, 10:47 PM
Never fear people, my psychic friend has told me platinum will rebound and hit $3000 by the end of the year! Time to buy is NOW!!!!!!


:p

what else did he predict?
hope hes right?
i love Platinum..
bought it under Fourhundred around y2k and sold at 600... i never thought it would go to 2000 plus!
i did make a profit so i shouldnt complain..:rolleyes:

Frank
09-30-2008, 11:37 PM
What was the reason for the surge in Platinum price in early '08? Were there political reasons or news that drove up the price?

Beginning of 2008 all commodities surges so did Pt. Pt is an industry metal eps. with automobiles/cars, now recession no one can afford to buy cars so Pt. is down.

Lord_Goldsmith
10-01-2008, 08:03 AM
The car companies are throwing out figures today. Won't be good

refrep
10-01-2008, 12:37 PM
fortunately platinum is also a precious metal and highly sought after. Plus its very rare. The U.S. Mint would not make Platinum eagles at a $100 mark if they weren't rare. Higest there is.

I DO NOT see Platinum going down much below $1,000 before it cruises up. REMEMBER, The U.S. Dollar is in a crashing state.

YOU WILL NOT, repeat, YOU WILL NOT see platinum at $600 an oz again under the U.S. Dollar... MO

nu2au
10-01-2008, 03:12 PM
What about yesterday's 25 billion loan to the auto industry? That should help revive the market, and certainly drive up demand for Pt, Pd

IveGotTheNuts
10-01-2008, 04:59 PM
What about yesterday's 25 billion loan to the auto industry? That should help revive the market, and certainly drive up demand for Pt, Pd

Whatever the US loses China India Malaysia Africa will make up for in car sales. These countries are modernizing at an alarming rate . In 10 years from now world car production will 20 to 30 percent more than it is today. We clearly will not be mining 30 percent more Pt in ten years from now. So it is safe to say we will see an increase in the price of Pt eventually. We may never understand the true value

Coldtrader
10-01-2008, 10:06 PM
Whatever the US loses China India Malaysia Africa will make up for in car sales. These countries are modernizing at an alarming rate . In 10 years from now world car production will 20 to 30 percent more than it is today. We clearly will not be mining 30 percent more Pt in ten years from now. So it is safe to say we will see an increase in the price of Pt eventually. We may never understand the true value

I'm really wondering why i'm still seeing statement from people. If the US/western Europe do not buy products from these nations, these nations cannot afford ANYTHING. Cars will be the last thing they can buy. It is in everyones best interest for the US to do well, so they can keep the global economy running.

johndaniels
10-02-2008, 12:06 AM
I wouldn't suspect that the price will stay here long.


it wont. there isno supply; what you can get is 200 bucks over spot and sells within an hour. great price! too bad can get any for it. i would pick up some eagles if i could find 'em.

refrep
10-02-2008, 04:34 AM
I'm really wondering why i'm still seeing statement from people. If the US/western Europe do not buy products from these nations, these nations cannot afford ANYTHING. Cars will be the last thing they can buy. It is in everyones best interest for the US to do well, so they can keep the global economy running.

china's currency i believe is about to soar. As soon as cash/t-bills are dumped. Remember the China is now the biggest CREDITOR of the United States. They own us. MO

Their people will continue to flourish, just like India will too. MO

refrep
10-02-2008, 04:37 AM
it wont. there isno supply; what you can get is 200 bucks over spot and sells within an hour. great price! too bad can get any for it. i would pick up some eagles if i could find 'em.

i've noticed the same thing. ebay i see a lot of platinum oz's going for over $300-$400 over spot. Amazing...

tampa78
10-02-2008, 11:43 AM
maples are priced nicely at BD

MiamiFlorida
10-02-2008, 11:52 AM
Never fear people, my psychic friend has told me platinum will rebound and hit $3000 by the end of the year! Time to buy is NOW!!!!!!


How much PT did you psychic friend buy...?

MiamiFlorida
10-02-2008, 11:56 AM
What about yesterday's 25 billion loan to the auto industry? That should help revive the market, and certainly drive up demand for Pt, Pd

But, let me ask you, even if you could get an auto loan, how comfortable would you feel taking out a $35,000.00 loan for a new car?

MiamiFlorida
10-02-2008, 12:31 PM
Whatever the US loses China India Malaysia Africa will make up for in car sales. These countries are modernizing at an alarming rate . In 10 years from now world car production will 20 to 30 percent more than it is today. We clearly will not be mining 30 percent more Pt in ten years from now. So it is safe to say we will see an increase in the price of Pt eventually. We may never understand the true value

I disagree, having traveled throughout most of Asia, South and Central America, your argument is myopic and assumes that all cultures have the American values and priorities.

I understand that it's easy to assume your experience and cultural references would be adaptable or transferable to 2nd world and emerging 1st world economies, but the reality is these markets can neither afford or have interest in technology that uses PGM's. In these countries, the small number of citizens that are wealthy have moved out of the air polluted cities and into new large suburban homes and estates.

But, for anyone interested in living abroad, many major cities have unheard of bargains on city center mansions and commercial buildings. Eventually, like in the USA and Europe, the trend will reverse and the wealthy, sick of long suburban commutes, will return to the cities paying big money to get back in...

Coldtrader
10-02-2008, 10:00 PM
china's currency i believe is about to soar. As soon as cash/t-bills are dumped. Remember the China is now the biggest CREDITOR of the United States. They own us. MO

Their people will continue to flourish, just like India will too. MO

I see what you're saying, but all of that 100% assumptions. China is not going to try economically hurt US/Western Europe because we are the reason they even produce anything. Africa and South America will be the big buyers of chinese products. You can bet the house the house on that.