I don't see any backwardation right now in Platinum on the Comex. So if it was there it disappeared quick.
April - $938, July $951 and so on.
April - $938, July $951 and so on.
*Sigh* Platinum takes a dump, again...
- Thread starter DoChenRollingBearing
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I would like to add but looking for something under $1,000. Not quite there.
very very hard to buy PT under 1k ......thats my price point also over the years .......best i can do is just pick up lil bits n pieces here and there
So his entire EFP premium argument preceded a Downdraft... if nothing else.
in my opinion what i see on the chart is just normal trading waves.....PT needs a course change to make a real move...i personally think that will come from the vehicle industry demand as diesel trucks or hydrogen trucks start to restart growth after this currently failed electrification experiment fades.....i personally look at fundamentals and i think PTs role as a catalyst will be what will drive demand up over time ...... i see a lot of this chart chop as ebs and flows in the supply side as russia and south Africa are the primary suppliers and are relatively unstable suppliers
im not betting the farm on PT just see it as potentially undervalued and with a lot of room to move upwards ...ultimate low for PT i see as in the 6-700 range
just my 2c worth
im not betting the farm on PT just see it as potentially undervalued and with a lot of room to move upwards ...ultimate low for PT i see as in the 6-700 range
just my 2c worth
Perhaps that big one day blip scared the Nymex a bit. Platinum had a big trade too.
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Any experise I have in this stuff comes only from working at a metal recycle plant where these metals had their own recycle section. To be honest when you look at the trajectory of Platinum it looks pretty stable compared to gold and silver.Platinum maybe less so then the other metals in its group but it also has more uses which means its subject to market volatility more. 5 year Platinum trajectory.
Rhodium is the one that really took a dump. Rhodium has less uses and is really tied to the auto industry.
Heres Palladium. Which I know little about. What I do know is its very popular to recycle.
Anyway to my point. Heres gold and then silver.
Gold and silver strikes me as the metals to own right now. If I owned platinum I'd dump it and buy gold with it.
Rhodium is the one that really took a dump. Rhodium has less uses and is really tied to the auto industry.
Heres Palladium. Which I know little about. What I do know is its very popular to recycle.
Anyway to my point. Heres gold and then silver.
Gold and silver strikes me as the metals to own right now. If I owned platinum I'd dump it and buy gold with it.
Platinum costs $900/oz to produce. Everything except gold.looks cheap right now because of margin calls and liquidity concerns. I wish I had a spare $1m cash to buy a few stocks, some platinum and a few kilos of Ag.
I'd be curious to know how much of these exotic / ie Pt, Pd, and Rhodium metals you recycle. And how well are they recognized? Is it just all cat converters so everyone knows to collect those?
Rhodium is like the wild west cowboy of the metals and more representative just because I don't believe there is much of a paper/futures market to control it.
over the years its been very hard to get PT in the hand for under 1k a oz
I jumped on the spot + $50 deals online for foreign platinum. It was so cheap I was even able to score a US Liberty for < $1k. I have.mostly.Royal Mint and Perth.
Just consider how TINY that market is for a futures market. What, 350,000 oz is their total Inventory? That's only $369 Million dollars.. MILLION.
I almost think that a Platinum squeeze here would work a lot better than a Silver squeeze.
Elon could buy all the platinum from the loose change in his sofa.
Well I think it will but that's gonna take quite the run. It needs a 275% increase and then Gold isn't just gonna sit still.
So maybe in a year... no idea, just a WAG.
So maybe in a year... no idea, just a WAG.
Talking about premiums man nothing beats the American Platinum Eagles. I think they stopped minting them some time ago. They are like $300 / oz over spot. But I wonder where the buy prices are on these coins. I did get a couple and they are nice but I don't have a good handle on the buy zones with such a large premium.
Well so JM does list em at $320 / oz premium and buy price at $30 over spot.... Seems to be too big of a spread here.
Well so JM does list em at $320 / oz premium and buy price at $30 over spot.... Seems to be too big of a spread here.
PT has always sported huge spreads ....its very hard to aquire PT at lower premiums and requires a huge amount of searching and patience to find sources.........not nearly as tradeable as Au and Ag...... PL can be difficult also ....i keep some PT and PL but its more of a curiosity side thing picked up in passing over the years, once tried to sell some PL maples at a coin show and the dealer looked at me like he had seen a ghost and wouldnt even put a number on them LOL
It seems to me that the illiquid market premiums make these metals more attractive to buying something like Sprott's Physical Platinum and Palladium Trust for liquidity.
sprott.com
Sprott Physical Platinum & Palladium Trust | Sprott
The Sprott Physical Platinum and Palladium Trust (SPPP) invests hold substantially all of its assets in physical platinum and palladium bullion. SPPP seeks to provide a secure, convenient and exchange-traded investment alternative for investors who want to hold physical platinum and palladium...
Trading it maybe... but to add some boat anchors, nah that won't work.
BE has a deal on generic coins. Liberty sometimes beats them on price. I know American platinum is much more expensive and I have some, but a majority in foreign coins.
Pretty sure I swapped a Palldium bar for some Platinum awhile ago (right about 2:1 mark). Looks like I just missed top ticking the spread. Think I did it right around Christmas and needed to wait till spring break.
You know a market is on a one-way slingshot when the 30 min, Daily, and Weekly charts all look pretty much the same. Nice job Pt.
I been buying foreign platinum for the lower premiums. I always liked the Brit reverse best and it has the lowest premium. Plus there is nothing like holding a roll of platinum coins in a tube. It's like a weapon.It seems to me that the illiquid market premiums make these metals more attractive to buying something like Sprott's Physical Platinum and Palladium Trust for liquidity.
Sprott Physical Platinum & Palladium Trust | Sprott
The Sprott Physical Platinum and Palladium Trust (SPPP) invests hold substantially all of its assets in physical platinum and palladium bullion. SPPP seeks to provide a secure, convenient and exchange-traded investment alternative for investors who want to hold physical platinum and palladium...
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I was shouting from the mountain top 3 years ago when there were only a few choices in platinum coins available for sale in the USA. I was saying it should be near the price of gold at least plus it is so scarce that when it does move it's velocity will be swift.
My son actually listened to me and his first buy was some 1/10th Kooks. The lowest I have seen on any 1/10s was $116 and $940 for a random 1oz.
The premiums on American platinum coins is outrageous. I eventually bought one when everything was fading a couple of years ago. What a difference a little bit of time makes to value. The cheapest foreign 1oz coin is now $1402. That's alpha!
I asked that very question to a homeless Cuban high priestess in Miami who lives under I-95 in Brickell. She rolled some chicken bones around in the sand and blew cigar smoke in my face, then exclaimed "mil quinientos!"