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Will Gold Overtake Platinum

  • 28-07-2011 10:20pm
    #1
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭


    Has the price of Gold ever overtaken Platinum since the two have been traded as precious metals?

    The current spot price of Gold is $1617 and Platinum $1791 That's the closest I have ever seen the two in years.

    I think this is yet another sign of futures predicting bad times.

    True, gold is a hedge against inflation and its rise indicates, at least in part, a loss in faith in FIAT currencies.

    They say all of the Gold ever mined could fit inside an Olympic swimming pool - pretty rare. However, all of the Platinum ever mined could fit inside my living room - now that's rare!

    So does Platinum follow the economy due to its use in the auto industry whereas Gold is more contrarian?

    Does anyone think Gold will over take Platinum? Five years ago, I would have thought that was a joke, now I think it will.

    Still buying...


Comments

  • #2
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭FISMA


    Well the spot of Gold beat that of Platinum today. That's a double bad indicator for the economy.

    Now my question is, if you are investing in the Physical metal, is Pt the better buy?

    Is Pt on sale so to speak due to the reduced industrial demand?

    It is much more rare than Gold. I would have thought it would have made some move.

    Gold really is the stock market's scared bunny.


  • #3
    Thargor
    Registered Users, Registered Users 2 Posts: 18,063 ✭✭✭✭Thargor


    all of the Platinum ever mined could fit inside my living room - now that's rare!
    I never knew that, that's crazy, there's practically unlimited platinum in the asteroid belt, that's what NASA should be doing.


  • #4
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭FISMA


    Thargor wrote: »
    I never knew that, that's crazy, there's practically unlimited platinum in the asteroid belt, that's what NASA should be doing.

    True, but I believe it costs $10,000 just to get a gallon of water in to low earth orbit.

    Can you imagine the cost of getting everything needed in to an orbit around Mars!

    It would be cheaper to just buy it here.

    Kind of like Napolean and his aluminum spoons...


  • #5
    Thargor
    Registered Users, Registered Users 2 Posts: 18,063 ✭✭✭✭Thargor


    They wouldn't be sending Bruce Willis out there with a drilling rig though, a robot could do it slowly with something like a solar sail or ion rockets that only push with a tiny bit of force but can run for years on a small tank of fuel, a long way away yet though.


  • #6
    I Heart Internet
    Closed Accounts Posts: 4,678 ✭✭✭I Heart Internet


    My feeling is it's hard to buck historical trends like the belief, rational or not, that platinum "should be" priced above gold in $/toz. It might be a self-fullfilling prophesy.

    My gut tells me platinum is a good buy now. A combination of gold price decreases (eventually, when things calm down...although I still see gold going higher in the short-medium term) and platinum price increases (on the back of favourable reports from the car industry (again...eventually) will restore platinum to its place in the hierarchy of precious/industrial metals.


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