Platinum looks ready to explode upwards (buy now)

Platinum looks ready to explode

I was looking at some 5 year price charts for Gold, Silver, Platinum, and Palladium and noticed that 3 of these 4 (Gold, Silver, and Palladium) have all blown past their 2007 highs.





However Platinum is still sitting a good 30% below that old high. This makes me think that Platinum is getting ready to make a big run like Silver did in the 2nd half of this year.



For those thinking that Silver has run too far too fast ... Platinum is still selling for 30% less than it's 2007 peak. Current bid is $1,768 per ounce.

I would not be surprised to see Platinum race over $2000 an ounce in the next month or two (and I think could easliy get back to it's 2007 high of $2,200). This would be a 30% gain.

I think Platinum looks like an interesting investment right now. Just thought I would share my thoughts and charts. Happy Investing!

 

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Bought some eariler this year. Wish I had bought more. I tried to split my money equally between platinum, gold and palladium. So far so good.

 

good job!

it's amazing to me how 3 of the 4 metals have roared over the past few months ... while PLT just looks like a coiled spring ... ready to pop.

 

I would try and find out why Platinum hasn't kept pace with the others. This has been a year of metal commodities, so there must be an underlying reason, which may extend long term. Even relatively unknown metals such as Europium and Cerium have made extremely large increases this year, mostly on supply and demand. I use Cerium oxide for polishing gem stones, and IF you can find it, it is either lesser quality or 5-10X price of a couple of years ago.

You can be sure there is a fundamental reason for Platinum's pricing. I would caution waiting for it to show a definite and supporting move before putting money on it. Money is usually lost more at being late to leave, rather than being late arriving. Happy NEW YEAR to all bullion Investors.

Jim

 

yes, i agree ... there are a lot of moving parts here ... and in investing there is NEVER a sure bet!

just a note though that silver was also lagging through the summer ... it was in the doldrums ... stuck around $18.50 ... then since sept it's run up over 70% to nearly $31

I just wanted to point out this price anomaly in Platinum.

And if some dont want to invest in silver because it's run "too far too fast" ... platinum might be your play as it hasnt really run at all.

 

Wait til the big 3 find a way to replace platinum in their industry...goin' down...

 

Great response. There are a lot of very smart people involved, and I would be hesitant to second guess them. The only disagreement I would have with Jim would be I think the upward market is more speculation than supply and demand, as witnessed by the highest level of speculative buyers in the market's history right now.

Chris

 

in any case it will be fun to watch the price of Plat through the early months of 2011 and see how this plays out

(this is better than reality tv!)

 

Platinum is heavily industrial and doesn't have the collector appeal to most bullion types (plus it's too expensive for many). That said I do see Pt going over $1800 in 2011 and possibly to $1900. I really feel $2,000 Platinum won't be here until 2012 at the earliest.

 

maybe one reason platinum has not reached it's high is because it's high was partly caused by a strike of miners in South Africa
http://en.wikipedia.org/wiki/Mining_industry_of_South_Africa#2007_strike.
also automotive parts manufacturers substitute paladium whenever possible to cut costs, and recycling of parts containing platinum has grown. Even our O2 sensor manufacturer pays 50c for returned sensors. Jmo

 

There's still jewelry

 

I

I think you are correct for Silver especially, gold some, but copper and rare earths have attracted speculators more in the last quarter, than driven by them I believe, due to supply and demand. But yes, there are the alpha dogs and then there are the pack followers who tend to get some "goodies".In my opinion silver is still being manipulated strongly, and I wonder how that will play out in the next 3 months. Happy New Year, hope everyone made good money investing.​

 

Remember what ever goes up comes crashing down! it cant and wont stay high for ever!