Discussion in 'Bullion Investing' started by CHARLES GINETTO, Apr 8, 2020.


    CHARLES GINETTO Active Member

    Why is it going through the floor?
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  3. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    Reduced demand for autos, methinks.
  4. thomas mozzillo

    thomas mozzillo Well-Known Member

    IMO whenever there's some kind of crisis people resort to what they know. Buy what you're sure that other people trust, gold and silver. Platinum isn't as trusted to hold it's value.
  5. goldcollector

    goldcollector Member

    Yeah because silver really held it's value. Lol. Silver dropped double what platinum dropped
    midas1 likes this.
  6. Jeffjay

    Jeffjay Well-Known Member

    Because it's a commodity.
  7. Speedbump

    Speedbump Not a New Member

    Platinum is the preferred catalyst in catalytic converters for diesel powered vehicles. The VW emission cheating scandal has put pressure on the auto industry to distance itself from diesel engines with some countries even moving to ban diesel passenger cars altogether. This has pushed demand for platinum down since the scandal broke back in 2014.

    CHARLES GINETTO Active Member

    I never heard of palladium before last year. Why is it's value so high?
  9. thomas mozzillo

    thomas mozzillo Well-Known Member

    According to an article in Coin World Palladium supplies are extremely limited and it's preferred over Platinum by auto makers for use in emission control devices.
  10. Speedbump

    Speedbump Not a New Member

    Where Platinum is preferred as for diesel catalytic converters, Palladium is more common in gasoline powered vehicles. Demand for palladium has been on the rise with increased global car sales, more strict emissions regulations, and a shift away from diesel passenger cars, mainly in Europe. Demand has greatly exceeded supply, driving prices to record highs. The outlook on auto sales is not super wonderful right is however. It wasn’t great before the viral outbreak, and is even worse now. Palladium has dropped some and will likely drop more over the coming months on slowing auto demand. I also expect EVs to become more mainstream in the coming decades, pushing platinum group metals lower long term.
    -jeffB and thomas mozzillo like this.

    CHARLES GINETTO Active Member

    Thank you.
    thomas mozzillo likes this.

    CHARLES GINETTO Active Member

    Thank you.
    thomas mozzillo likes this.
  13. Ana Silverbell

    Ana Silverbell Well-Known Member

    Auto makers were using platinum for catalytic converters. When the price spiked, auto makers converted to palladium, which was historically cheaper. Auto makers tool up for either metal but the transition is not rapid. I expect auto makers will tool up for platinum when we come out on the other side of the COVID-19. I am looking at platinum as the play when the economy gets back into gear. Buy platinum now?
    CHARLES GINETTO likes this.
  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    Ask yourself, where is platinum used? You should have an answer for your question as they are not building them now.
    thomas mozzillo likes this.
  15. thomas mozzillo

    thomas mozzillo Well-Known Member

    It all depends on when you bought it and when you sold it. If you want to look at long term or short term?
    Last edited: Apr 12, 2020
  16. Ana Silverbell

    Ana Silverbell Well-Known Member

    With palladium prices up, platinum could become the metal of choice again in products. Article link below shows what has hindered platinum but with global economies shut down, platinum could be in play again. If there were a time to "tool up" with the cheaper metal is on the other side of COVID-19.
    thomas mozzillo likes this.
  17. InfleXion

    InfleXion Wealth Preserver

    There's only a billion oz of available silver on the open market. At $20/oz that's 20 billion. With tens of trillions floating around, silver is a small potato, easy to push around, not worth using for any litmus testing.

    Right now if I were in the mood for gold, I would definitely be going for platinum too. It looks like a great buy, but I'm still more enticed by silver prices. Having bought at most every price point the last 12 years, $20/oz out of pocket is just fine.
  18. onebluesummer

    onebluesummer New Member

    I have always thought Platinum would be way too expensive to buy till this weekend when i looked up the charts. Couldn't belive it, funny Canada's most vaulable coin is a $300 Platinum, same with some other countries, even Russia had 3 coins back in the day like 1854pre were PLT and were the highest valued.

    Historically Gold has been peaked only an extra 10%, Silver has been 3x, and PLT has been 3x what it is.

    So whats the buy now?

    You can get GLD @ 10% over Spot, Silver @ 25% over spot, and PLT at 10% over - What sells me here is PLT has the lowest cost to aquire over spot and historically highest to go. NOT exact numbers but with these geralities this is a strong BUY just based on historical numbers and current Cost to Aquire.

    Its been stated before but check out whats slated for 2022:

    Diesel though not as popular in smaller cars now will be here for the long haul, even small 1/2 ton Merica trucks are being offered in Diesel now. I still agree with stated above that a lot of the reasoning behind the down swing is fear mongered from that VW scandal.

    PLT is widely being used in medical, injectionable (is this a word ) metals. Which to me I see a huge possible inflation for prosthetic, and even stated cancer treatments, unreal!

    This list is an amazing outline I hope is Stickied in a new thread titled:

    What is Platinum Used For



    I am new to metal buying but one thing I do know is History LOVES repeating itself. So Im jumping in and will sell half @ 2100$/ounce and keep the rest till the moon.
    goldcollector likes this.
  19. onebluesummer

    onebluesummer New Member

  20. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Its been heading south for sometime, but I have been buying allot, it will eventually recover and make its way back to its previous glory.
  21. losthomer

    losthomer Active Member

    I'm sour on the future of diesel light truck and passenger cars. Electric vehicles are future. Look at the specs of of the Cybertruck or electric Hummer. 500 miles range with no diesel engine maintenance and repair. I was a fan of diesel light trucks until recently. Everyone I know spends a fortune to keep their diesel going.
    midas1 likes this.
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