bobh Posted December 17, 2008 Report Share Posted December 17, 2008 Did anyone notice that platinum is actually cheaper than gold now? Why? Link to comment Share on other sites More sharing options...
grivna1726 Posted December 17, 2008 Report Share Posted December 17, 2008 Did anyone notice that platinum is actually cheaper than gold now? Why? I hadn't noticed and don't know why that might occur. I do know that platinum has industrial use (e.g. in catalytic converters). Maybe slackening manufacturing demand is a factor? Link to comment Share on other sites More sharing options...
LostDutchman Posted December 17, 2008 Report Share Posted December 17, 2008 exactly... with the auto makers in big trouble the demand for platinum is way way down... the average catalytic converter in a car contains between three and seven grams of the stuff Link to comment Share on other sites More sharing options...
KoRnholio Posted December 17, 2008 Report Share Posted December 17, 2008 Yeah, that is basically it. Recession means that people are making fewer purchases, especially big ones like new cars. Demand plummets for cars and thus platinum as well. Link to comment Share on other sites More sharing options...
just carl Posted December 18, 2008 Report Share Posted December 18, 2008 See how fast we all forget razor blades. Electric razors are making Platinum blades a thing of fading glory. Gold, however is on the increase. Just a few days ago, at an auto parts store, I saw Gold Plated Battery Terminal connectors. Link to comment Share on other sites More sharing options...
thedeadpoint Posted December 18, 2008 Report Share Posted December 18, 2008 Darn. I was hoping you'd say gold razor blades. I'd totally use a gold razor Link to comment Share on other sites More sharing options...
TomD Posted December 19, 2008 Report Share Posted December 19, 2008 If you were to buy some bullion to sit on for several years with a profit in mind, pt would be a good bet. Link to comment Share on other sites More sharing options...
gxseries Posted December 19, 2008 Report Share Posted December 19, 2008 Bad idea TomD, what happens if platinum is replaced by other metals? There is no guarantee that platinum will always be used for catalysts or other industrial purposes. Good example is copper. Copper is an excellent electrical conductor but when prices went too absurd a few months ago, aluminum capacitor slowly got into the market as a cheap and reasonable substitute for copper. Link to comment Share on other sites More sharing options...
LostDutchman Posted December 19, 2008 Report Share Posted December 19, 2008 I agree....I think platinum was due for a correction and I don't see it getting to those levels again any time in the near future. If your looking for a metals play I say stick with gold. Link to comment Share on other sites More sharing options...
KoRnholio Posted December 20, 2008 Report Share Posted December 20, 2008 I think Pt will shine again. Only when it was hitting $2k+ were automakers seriously considering alternatives to Pt for catalytic converters and that. Though before investing in any Pt, I think it does a lot of good to read up on the history of Rhodium. That can give you an idea of what the worst case scenario is Link to comment Share on other sites More sharing options...
sturzny Posted December 20, 2008 Report Share Posted December 20, 2008 I think Pt will shine again. Only when it was hitting $2k+ were automakers seriously considering alternatives to Pt for catalytic converters and that. Though before investing in any Pt, I think it does a lot of good to read up on the history of Rhodium. That can give you an idea of what the worst case scenario is Absolutely agree. Metals like Pt, Pd, Rh, etc. are too volatile price-wise to be good buy-and-hold investments. Great if you want to trade futures though. Link to comment Share on other sites More sharing options...
gxseries Posted December 20, 2008 Report Share Posted December 20, 2008 Future trading and greed is what made the whole mineral market crash. Investors just want to muck around with the numbers whereas the real buyers that use them in their industries are the one that have to pay bigger price. Investors win, buyers that have to use them in their industry loses out. Cost gets passed down to customers lose out as well. That's what happened to oil prices and everyone lost except investors that can just mess around with the market - don't people get it? Of course if you happened to be one of those investors, this discussion is just so irreverent. If I remember right, palladium happened to be a scarcer metal than platinum and no new deposits are found. Yet palladium prices are much cheaper than platinum simple due to demand. Link to comment Share on other sites More sharing options...
dustin43160 Posted December 20, 2008 Report Share Posted December 20, 2008 looks like i can make a living stealing catalytic converters!!! yay!! lol im joking of course!please send your unwanted catalytic converters to me ill take em free of charge and ill pay postage!! its a good deal! Link to comment Share on other sites More sharing options...
hiho Posted December 20, 2008 Report Share Posted December 20, 2008 Gold has and always will have a certain mojo, while platinum does not. Next question... Link to comment Share on other sites More sharing options...
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