Platinum cooled off

Discussion in 'Coin Chat' started by wesleyscott, Feb 27, 2008.

  1. wesleyscott

    wesleyscott Senior Member

    Sure seems that Platinum has cooled off. Silver and gold are still doing well though.
     
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  3. Rono

    Rono Senior Member

    Howdy,

    Platinum had surged largely on power supply problems in south africa causing some mines to shut down. That issue is still hanging, although one would have to think that sooner or later, someone will check the bloody fuse box.

    Platinum dropped yesterday due to the fall off in durable goods orders as reported yesterday by the gov't. The implication is that this will translate into a decreased demand for cars and trucks and their catalytic converters which happen to be the biggest industrial use of platinum.

    Gold and silver are still strong based upon inflation fears. Palladium is doing very well because it's a straight up substitute for platinum.

    peace,

    rono
     
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