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Platinum price overtaking Gold price again?

PostPosted: Fri Sep 14, 2012 8:27 am
by Market Harmony
We've recently witnessed Silver make a huge run from $27 to just under $35 recently (+30%). Gold went from $1565 to $1770 (+13%). And Platinum, once a stalwart of PM's which traded above gold for decades, went from $1380 to $1700 (+23%).

August 2011 was the first crossover of the Gold:Platinum ratio. In April 2010 it was 1.5:1, got as low as .87:1 in December 2011 and again in August 2012, and is currently .95:1. The 250 day moving average is below the 1:1 ratio; meaning that the weakness in Pt in relation to Au has been ongoing for 3 years.

I'm not sure if being a contrarian now is the right thing to do, and I have not been a big fan of the other white metals for the last 5 years, but I am finding prudence in the idea of diversifying my holdings by adding some Pt to my portfolio. I continue to like gold and silver, but this looks like an opportunity in Platinum.

Re: Platinum price overtaking Gold price again?

PostPosted: Fri Sep 14, 2012 9:01 am
by beauanderos
never hurts to have a little bit of each

Re: Platinum price overtaking Gold price again?

PostPosted: Fri Sep 14, 2012 10:07 am
by Copper Catcher
I have always loved Platinum! :thumbup: You can't beat the rarity of the metal. When you realize that it takes approximately 10 tons of ore and a five month process time just to make up just one ounce of platinum; you can’t help but be in awe! Eventually, the economy will pick back up, hopefully within my lifetime and once again you will see this metal above the gold price where it should stay!

Re: Platinum price overtaking Gold price again?

PostPosted: Fri Sep 14, 2012 10:34 am
by blackrabbit
I like platinum and feel it should be worth more than gold. However I think this latest spike is mostly due to the South African miner's strike and work stoppage. It may go up some more but once they get crushed I think it should fall some. Woulda, shoulda, coulda bought around $1400. That saying, I am not selling the bit I have buried in a remote undisclosed location.