Platinum?

I wouldn't be shocked if the Chinese didn't have a boat load of shorts ready to go before they announced that. All the market reactions of late in the metal markets seem to be completely predictable. I'm not saying the market moving events are predictable, but the reactions to them are. The bullish events are non-events, and the bearish events generate reliable downward movement.

 

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From what I'm seeing, I believe that prices will stay about the same or drop a little before they climb to new highs.

 

I realize it's about $100 over, but....

http://www.ebay.com/itm/2011-1oz-Au...262?pt=LH_DefaultDomain_0&hash=item4d353afda6

 

I'd refuse to pay it. What are they going to do, take my business?

 

Stopped by LCS today......looking at platinum and gold.
Platinum around 980ish, gold 1100ish......

Their platinum prices......
1/10..........$137
1/4............$282.50
1/2............$550.00
1...............$1120.00

Not counting 6% sales tax.............

When Platinum was 1160 in early April, I paid $138.86 for a 1/10 eagle (with 6% sales tax)

When Platinum was 1120 in mid May, I paid $323.30 for 1/4 eagle (with 6% sales tax)

Seems like the premiums on the 1/10's have gone up. Didn't look at 1/2 and 1 ouncers back then. Was hoping to get some 1/10's in the $120 range today.

Of course, APMEX randoms are $163 for 1/10, $335 for 1/4 and $611 for 1/2, $1331 for 1 ouncers. WAY strong to spot for sure.

 

Went to dealer in salt lake yesterday. He had about 12 Isle of Man 1 oz coins for $60 over spot I thought that was a good deal I just can't buy 1 oz'ers right now

 

Platinum is getting hit hard as an industrial metal as is copper. Gold and silver are actually faring pretty well in comparison as the monetary metals, unlike other commodities such as coffee. I like platinum right now almost as much as silver, definitely more than gold.

Even if global deflation continues, platinum should recover eventually as platinum miners are beginning to shutter operations.

http://www.mineweb.com/news/platinu...hrinks-as-lonmin-becomes-first-to-cut-output/

 

I bought a 1/10th oz platinum coin from the US Mint in the early 2000's. Prices were a lot lower then. Haven't considered buying more. I was more interested in buying gold which I did this year. Now I'm trying to decide whether I need to diversify a little more buy getting platinum. What do you all think?

 

I'm game on platinum. I like it more than gold, the problem is finding it with out taking out a second mortgage to cover the premium over spot especially on the fractional pieces which are the one that I am interested in and could afford.

 

I picked up most of mine in the last month. I just wish I would have sat for more than a week after each purchase. I pretty much blew the rest of my budget for the year in July alone. I've still got a little powder. But man did that fall apart quickly!

I've mentioned it here before, I like to keep an eye on price ratios of platinum, gold, and silver in relation to one another. Last time I made a move on the ratios was when platinum was $200 higher than gold. I traded some platinum for gold at that point and took the balance in silver as a profit.

Now I'm waiting for platinum to fall far enough to convert some gold back to platinum. In the mean time, my spare cash is focused squarely on platinum given that silver margins are rising as fast as the price is falling. No deal to be had there yet.

 

Well my budget for precious metals, except silver, is gone for the year. Will need to wait for next year lol

 

China has been lying about how much PM's they have.

 

They can take whatever you have in your bank account, sale your business, home, cars and anything worth money in your house. Then you will wish they would have put you in jail or sold them the cakes. .

 

Blew it on Palladium. On Thursday last week, it dropped to $522/oz. I was looking at one of the Canadian 1 oz Palladiums from MCM or Baypreciousmetals or someone at $590 and waiting for it to drop below $590 and it never did and now Palladium is back up to $590/oz within 2-3 days. Oh well, que sera sera......wish I'd bought 1-2 of those Canadian 1 ozers. Baypreciousmetals ended their auction. Guess they didn't want to sell them for that cheap ultimately. Smart move. They're in the $660 range now.

 

I have three old platinum crucibles I found when cleaning out a lab in New York City many years ago. Where would be a good place to sell them. Total weight is around 31 g.

 

I'd hang on to them unless you're hard up right now. Prices are in the toilet and you'll likely get beat down because it's not a stamped and recognized source of bullion. Wait for the buyers to go crazy and then offload it to another collector for bullion value.

Are they solid platinum?

 

As far as I know they are 100% (or what passes for that). They are stamped "Baker".

 

Spot is around $900 today. Blaming the VW problem. Just checked out an American Plat Eagle. They are $400 over spot. Wow, I'll pass.

 

Both the low prices and the huge physical spread were in place long before the VW nonsense. With the new low cost mines in South Africa opening up, until world industrial demand spikes platinum will be in the doldrums a long time I am afraid. I will wait it out until premiums come down, then start buying.

 

i think it is fewer people buying cars, and i heard that the VW "scandal" hit platinum hard also.