Platinum though not a super buy, especially when you go to purchase as the premium is much higher then gold, through the spread but i do think the potential is there for greater profit,s
So I got my first Platinum Eagle today. Spot was $849 and I paid $80 over. Buy Back is high at $50 over. I wasn't the only one buying Platinum, as my LCS said there was a definite up tick in interest once Palladium hit $1,600.
Congratulations Bman! I’m looking forward to investing in some soon. Hope the Ikes have been coming along well
Ikes are going good. I completed my first set. Now I am trying to upgrade my Brown Ikes. A lot of them come out with blue haze. Now I am looking for prime specimens and varieties.
Just my opinion: I'd stay out of platinum simply because there is a global slowdown and automobile sales are slowing down, both here and abroad. This would negatively affect the price of platinum.
PM,S are for the long haul, if your investing in them, you need to be in a Minimum 5 years before good profits can be realized plus platinum has a Wide variety of uses as well, not just automotive, Platinum is at a good Price right now, its time to buy ! Also if your argument is true you would have to lump Palladium in there as Well and its sky rocketing !!
Palladium is a bi-product of mining for platinum. So, if the demand for platinum is low, the amount of the palladium on the market with be low, thus higher prices. Not the other way around.
My understanding at this time, after retiring from an automotive plant in 2016 and still having some connections, many are now switching back to platinum due to costs.
I would question whether the amount of either in catalytic converters affects the price of auto at all more than a few dollars. Since it is a catalysis it is suppose to act as a surface for the reactions and not be a part of the reaction, and should last the life time of the car. Recyclers are not impressed any more. "For loose pellets from non-diesel engines we pay $3.00 per pound. For honeycomb material from non-diesel engines we pay $8.00 per pound." https://www.archenterprises.com/catalytic-converters.html
And there's been quite a loud POP in palladium's price -- from $1600+ a week or so ago, it's down in the $1300s now.