OMG Gold as we speak is 1770 dollars an ounce!! It was just under 1700 a few days ago! Has gold ever been more expensive than platinum? also, $1800 gold will be soooo soon! What are your expectations for gold?
i dont remember it being so. The question i have is should some gold be traded in for platinum i mean isnt platinum a much more rare resource? What a strange time....
Gold spent sometime above platinum a year or two ago...it wasn't that long, but it was more than platinum.
thanks camaro i didnt know that.....i was a penny collector then lol.....so what do u think should i trade a gold eagle for platinum?
If I had gold eagles to spare I would swap one just to diversify. Platinum is an industrial metal for cars and is also used in chemical plants, but that's moot if the economy isn't doing well. Now if you were to ask me do I think platinum is a better investment than gold is right now, I would be on the fence. There's no denying it looks like a good trade based on historical context, but there are reasons for gold's rise. The other thing in my mind is on the off chance we do end up with a barter system you will want gold over platinum because that's what other people will want. Although if we end up with a gold standard and holding gold becomes illegal you'll want to have other metals too. Platinum is selling out fast on a lot of web sites so it does seem like people think it's a good buying opportunity.
I think platinum will go up, but gold has gone crazy since everyone thinks of gold first. This is especially true with all of the "cash for gold" places around. Look for Palladium as well. I wish I was able to find some back in 2007-2008 when it was around $200/oz.
Well, for most of its history gold was more valuable than platinum. Platinum used to be used to make fake gold coins, giving it the weight expected for gold coins. Platinum is much much more rare than gold, but they are two different markets. I view gold as up on economic uncertainty, and does have some room to fall. I view platinum as beaten down by bad industrial news, but with a tremendous upside. $2200 an ounce for platinum in a year would not surprise me. That much for gold WOULD surprise me. Not that I haven't been surprised before.....
The one factor with platinum, is that there is strong advances in using certain non-precious metals in catalytic converters. So the price of platinum may not only be affected by decreased demand in automotive production, but in it's actual need itself. Gold should be much lower except for the fear factors. I am not saying the bull market in gold is not still in place for years, just that if US stocks have a good next week, a correction of gold will likely occur, but I will use Medoraman's phrase
