Where's Platinum Heading ?

[Pete]

Platinum used to be more expensive than gold but for some reason it lost is place in the PM table.
People reckoned this was due to lower demand for industrial uses like catalytic converters but perhaps the precious metal price has been manipulated like silver - who knows ?

Anyhow I was amazed to see just how much the metal has risen in the past week and the chart for the month shows a price rise of over 11%
Typical as I was planning to order the next Queens Beast in Pt. but the price is now too high for me.

Does anyone know the reason for the sudden increase in spot ?

[HawkHybrid]

 

HH

[trozau]

Glad I was able to snag the 2019 UK 100 Pounds platinum QB Unicorn & 2019 Australia Aus$100 platinum Dragon for US$891.11 & US$907.39, respectively last Mar 31 on the Bay of E (before the uptrend). The nice designs were an added bonus.

Edited April 8, 2019 by trozau

[vand]

What goes down must come up

[Uksilverstackers]

£ Spread on Platinum at Goldmoney has been gradually increasing...

Jan 19 - 0.78%

Apr 19 - 2.20%

[DarkChameleon]

Platinum lost out when the industries using it moved to palladium as it was cheaper, this is a temporary stance but one that can last quite a while..palladium is very high right now and it may make sense to move back to platinum soon but industries don't all move at once and don't hold stock forever..so they choose when to dip their toes back in the platinum pool..trying to buy in smaller numbers over a longer time to not create a tsunami as prices rise for the platinum or drop through the floor for their holdings of palladium.

[vand]

In my view the Pt/Pd ratio should really have bottomed in 2015 when it was 1.5 and bounced almost back to 2.0.... but then the VW emissions scandal came along and extended the ratio the next 3 years to the downside, a further fall from roughly ~1.8 down a to bottom of about ~0.55. 

Recent price action suggests that this is going revert back towards to the mean..

 

[flim]

Pt usd 825.72

[bluemoon]

It's almost down to the 2018 lows. Another buying opportunity perhaps? I missed it last time because I was sitting on my thumb being unsure about it's future. I'll have to sit on my thumb some more now and keep wondering what it's future will hold! It doesn't help that the GBP is being nobbled these days too.

[RacerCool]

It is an opportunity, maybe, but every time I look at the more affordable sizes (1/4 ounce, for example), the premium is still very high.  Too high for me.  For that price I'd rather buy gold.

[Gildeon]

2 hours ago, RacerCool said:

It is an opportunity, maybe, but every time I look at the more affordable sizes (1/4 ounce, for example), the premium is still very high.  Too high for me.  For that price I'd rather buy gold.

That is the problem for me, if I could get fractionals in bullion prices I would have certainly acquired more by now. So far only the 1/10 Britannia fits the description.

[Stuntman]

I just bought a bit more in my SIPP, in the iShares Physical Platinum ETC Fund.

[vand]

@Stuntman what SIPP platform do you use?

I'm on Fidelity and they don't offer the Platinum ETF, just gold, silver and the PM basket (SPLT)

 

[Stuntman]

@vand I'm with Hargreaves Lansdown.  I've got the iShares physical Gold fund (SGLN) in my ISA, and the iShares physical Silver and physical Platinum funds SSLN and SPLT) in my SIPP.

[flim]

back below 800 again

may be now is about the time

[DarkChameleon]

I think right now with russia and China buying up gold they are offloading more and more none gold pm's to do it...also too many countries are required to deal in pms to avoid sanctions and paper trails...if two are hording then they have to deal in more none gold and so those are building and falling on those deals.

[flim]

will Palladium and Platinum follow the recent Gold move ??

[goldmember44]

I'm beginning to look at platinum as the most undervalued precious metal with the most potential to rise in value in the medium to long term. As someone else said in this thread, it used to be more expensive than gold, actually for a long time. Platinum's current price level looks very low in comparison to gold and other pms, I don't think one can go wrong to load up a few ounces here. I want to do so before any potential big move upwards.

The practical problem I see with buying platinum is that it seems to have high premiums compared to gold and silver, and also you have to pay VAT on it... that's a bummer. Having said that, I've seen decent prices at Sharps Pixley, for example a 10g bar costs £281 (excl VAT):

https://www.sharpspixley.com/buy-bullion/pgm

[Elements]

Probably best to buy from Europe I’d have thought? For example European mint 1oz coin  £760ish, vs 1oz sharps pixley bar £808

[AgCoyote]

The premiums on platinum suck. There really isn't much selection relative to gold and silver. I wish there was more fractional platinum.

[TopHatsTales]

Just had a look at iShares physical ETF's and the custodian is JPM.

A bit off-putting.

[DarkChameleon]

3 hours ago, AgCoyote said:

The premiums on platinum suck. There really isn't much selection relative to gold and silver. I wish there was more fractional platinum.

my lcs won't even buy platinum right now, they don't see an upside for them in the near future and don't want to clog up their shops with something that won't sell quickly.

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Added 0 minutes later...

1 hour ago, TopHatsTales said:

Just had a look at iShares physical ETF's and the custodian is JPM.

A bit off-putting.

You know youl, suffer in that deal, the only ones to make out there are JPM and their best investors.

[DarkChameleon]

3 hours ago, AgCoyote said:

The premiums on platinum suck. There really isn't much selection relative to gold and silver. I wish there was more fractional platinum.

It used to be $70 over spot and people paid it, now it's dropped 30% people don't want it...shame cos it falls into the fear factor where you can make real money.fear buy, greed sell.

[Pete]

I keep checking Platinum for an opportunity to add some but when I look at this chart I get kind of nervous as no-one knows what is on the righthand side ...

 

 

[Spark268]

its a large increase recently but i would keep buying it whilst the cost of it + VAT remains below the gold price. 

There's a reason why both the Gold and Plat brit's both have a nominal value of £100.