*Sigh* Platinum takes a dump, again...

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You can buy my Pt for hmm.... We need a decent new car. I'd say about 20 grand would get you an ounce or two. Offer is only valid for a month or so.
 
Car manufacturers better be buying it up just like India is buying silver. If you cannot source cheap silver you will not have a solar industry.
 

pmbug said:
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Makes sense because they were out... Managed to deliver 841 contracts in the middle of the month yesterday.
 
Oh my...
 
It is noteworthy and who knows how much Platinum is available out there for COMEX to hover up. They have doubled inventory in a couple weeks. But, having delivered over 4,000 contracts this month (205,950 oz in July only). They still have just under 2 months of inventory left at that pace of deliveries.
Monthly this year
__ TOTALS: |Dec- 117 |Jan- 2681 |Feb- 610 |March- 875 |April- 4928 |May- 390 |June- 1177 |July- 4124 |

Also I just noticed but Palladium is having None of this activity. They only delivered 85 contracts for Palladium. I presume that was a normal month for both not long ago.
 
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Besides reconfiguring the FED, Trump needs to change the COMEX where it is more of a delivery institution instead of a market manipulator, so we can compete with what the BRICS are setting up with Embridge.
 
Trying to read to answer my own question. Their rule says "No trades in Platinum futures deliverable in the current month shall be made after the third last business day of that month." So I'd guess it stops trading tomorrow...maybe today.
 
This is what Grok said when asked a similar question about the July silver contract:
 
Looks like a pretty stead amount of Pt, over 1000 Aug contracts right now. Silver is just barely over that number of contracts right now.
 
Well, they've dumped a nice 10-15,000 contracts this morning. Had a nice $30 gain overnight and they've gotten back to red briefly. That's 50,000 ounces they don't have. It was basically a whole days worth of contracts in an hour. Desperate much?
 
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Well that was faster than expected. But holy cow did anyone shoot Dr. Copper? 18% on a main commodity. Some efficient market you have there.

 
They can manipulate the paper spot price of Pt much easier than Au because the market is so small. It's only a matter of time before all the surplus physical is sent through arbitrage from west to east where it will never return. Then the paper price will not mean much because there will not be enough physical inventory to establish a nominal value.
 
I'm not so sure about that any more. That would be common sense but I don't think that's the way it works. They can control Gold prices. Think about that. They can price money itself... It's almost easier to control the Biggest markets with the computer algo's. Just look at the markets that they lost control over in the past decade or so. You had the Nickle market squeeze, then Cocoa prices went nuts. Those were both Physical events because they didn't have enough of the real thing when it was needed.
 
That's my point. Not to mention the Shanghai delivery exchange will control the price not the artificial paper markets of the COMEX.
 
Seems like the physical crunch in Platinum has let up just a bit. Would be curious to see what the lease rates look like now. Anyway, This looks to be possibly getting ready for a C wave correction move. I could see this happening with a big market pullback and economic concerns. I would be backing up the truck and loading up between $1,100 and the moving average area around $1,200.

 
All the world needs is a declared debt crisis from a country like Japan, China or the USA to cause everything to breakdown. Then the next matter will be lots of movement to liquidity as everybody will be selling everything including PMs. After that the PM market will go parabolic in search of real price discovery.
 
I don't follow the platinum market as close as some of you, but I did see this just now:

 
Remember, they are in business to make a profit just like the buffalo hunters and whalers of the 19th century. Eventually physical will run out. Looks like platinum will break through $1500 soon.

When the US labels silver a strategic metal it will start catching up to gold fast. Others are already front running Ag. Did they ever figure out who was the person that locked up the ASE market with a giant purchase over a year ago? Platinum market is 1/10th the size of the silver market.
 
They are minting some platinum proof commemoratives instead at West Point. IDK if that's wise? They should have minted some fractional proof eagles if they wanted more profit.
 
2 days.
 
Congrats to our Platinum owners. $1,576.90 right now. Your finally getting your due after hanging in there for year after year. Last Jan. it was about $936 and I was tempted but it had been flat for so long I bought gold instead. I wish I had 10 to 20 1 oz rounds of platinum bought last Jan when I had the money. But I'm glad for youze who did.
 
Only issue with stacking platinum is that it's not as liquid a market as gold/silver. Finding a buyer when you want to sell (or a buyer that will give you a decent price) might be an issue.
 
pmbug said:
Only issue with stacking platinum is that it's not as liquid a market as gold/silver. Finding a buyer when you want to sell (or a buyer that will give you a decent price) might be an issue.
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Well I worked security at a metal recycle business and they sure as hell would Lap it up. Platinum was high on their list.
 
My first post here (I know pmbug from another forum, finally joined this one to see what's going on here).

I have a small amount of Pt and Pd coins (mostly coins), acquired when I thought they were too cheap to pass up (in a sense they were; I got both more or less at their bottoms during the past 10 years). I've held onto the Pd longer than I should have (I ignored the bubble, but I did trade a ballerina for a piece of art to give to my wife - that worked out), and Pt has taken years longer to come up from it's bottom than I thought it would. But to be honest, I largely stack and hold. I almost never sell, and rarely re-balance (though I have it in my mind to convert some Ag to Au when the GSR drops), so I suppose it doesn't actually matter what the price is, as long they remain a store of wealth, even if they have been less efficient than Au. At some point I may try to trade either or both for Au, since (as pmbug notes) Au is clearly more liquid.
 
I have little experience with Pt but If I was holding ,and had a buyer for a good price, and the spread was right, I'd really consider selling and buying Au right now.
 
Ahhh, Platinum.
And they call silver a dog…


​
there in 2012 to 2014 I sought to "diversify" and with gold being about the same with platinum I swapped a few ounces over.
Diversity is not always good.
 
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