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Thread: Platinum down to 2006 levels

  1. #1

    Default Platinum down to 2006 levels

    Platinum has fallen to below $1050, what was reached in early 2006 -- almost 10 years ago. So many more dollars now exist, and not much more Platinum above ground. Also, there is less a reason to artificially manipulate the price of platinum by the powers that be than that of gold, given that gold is a more of a monetary unit and tracked by many as an indicator of inflation. Do these low prices concern anyone? Is this not a sign that gold can easily fall below $1,000/oz? And what about Rhodium, once about 10K, and now about $850? Time to buy, or is the future of the trash like banker debt dollar still so strong?
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  2. #2

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    Not concerned and I am loving the sale. I am only 51 so I have a few more years of buying to go
    You look like I need a drink.

  3. #3

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    Quote Originally Posted by Ronbo View Post
    Not concerned and I am loving the sale. I am only 51 so I have a few more years of buying to go
    Doing the same, with plat my recent acquisitions. But do wonder if this spells a direction for gold, and perplexed as to how price can be so low, given so many more dollars in the system and as I've seen in my own little world since '06.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  4. #4

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    Unlike gold, platinum has many industrial applications that keep the price high in a growing economy. When combined with the expected supply deficit over the next few years, this truly has the potential to bring platinum prices to lows unseen for decades.

    Remember that we live in the world of the "new normal," where up is down and down is still down, unless the banksters and TPTB decide otherwise.

  5. #5

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    Until they replace platinum with nano technology, then it goes down to $200 an ounce.

  6. #6

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    Quote Originally Posted by motocat View Post
    Platinum has fallen to below $1050, what was reached in early 2006 -- almost 10 years ago. So many more dollars now exist, and not much more Platinum above ground. Also, there is less a reason to artificially manipulate the price of platinum by the powers that be than that of gold, given that gold is a more of a monetary unit and tracked by many as an indicator of inflation. Do these low prices concern anyone? Is this not a sign that gold can easily fall below $1,000/oz? And what about Rhodium, once about 10K, and now about $850? Time to buy, or is the future of the trash like banker debt dollar still so strong?
    Since 2006 about 60 mln new ounces of platinum have been dug from the ground.
    Its obvious that miners have been producing more platinum than is really needed.
    Had they stopped production completely in 2006 the price would have been now about $2500-3000.
    Last edited by MikeMM; 07-07-2015 at 06:54 AM.

  7. #7

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    Quote Originally Posted by Silver76 View Post
    Until they replace platinum with nano technology, then it goes down to $200 an ounce.
    I would like to buy some Pt jewelry and Maple so I am looking forward

  8. #8
    Join Date
    Jun 2014
    Posts
    3,458

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    Just look at Rhodium.........It will happen to all metals EXCEPT gold

  9. #9

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    Quote Originally Posted by DutchSilver View Post
    Just look at Rhodium.........It will happen to all metals EXCEPT gold
    Gold is a good one to keep...

  10. #10
    Join Date
    Oct 2011
    Posts
    25,750

    Default

    yup...now broke below $1000

    inct

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