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 Replies: 27 / Views: 2,952 |
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Pillar of the Community
United States
5839 Posts |
Who knows what it means in the big picture, but I just noticed that platinum has finally gone back above gold for the first time, what, over a year? As of 1:00 EST, platinum is at $1691 and gold is at $1680.
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Bedrock of the Community
United States
36606 Posts |
They think the economy is improving and that people will buy more cars.
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Pillar of the Community
United States
3789 Posts |
worldwide vehicle production is increasing and the law of supply and demand is coming into play.
Palladium and Platinum are today trying to reach yearly highs.
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Pillar of the Community
United States
919 Posts |
Euro auto sales fell and are expected to fall even further in 2013. Only China and US are buying cars. Not out of the woods yet. Silver made a big turn around today. In positive territory after negative all morning.
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Bedrock of the Community
United States
10982 Posts |
That hasn't happened for awhile!
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Pillar of the Community
United States
3789 Posts |
Europe auto sales are a non issue and fully known, old old news. Platinum and palladium are going higher on future auto global vehicle sales, again notice I say "global". Europe a non-issue.
Very simple to grasp, really it is. :)
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Pillar of the Community
United States
1450 Posts |
There was a strike announced in one of the largest platinum mines. I just heard it in passing yesterday but haven't sought out any details.
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Pillar of the Community
 United States
5839 Posts |
Quote:
There was a strike announced in one of the largest platinum mines. Ah, that would explain it. I guess maybe it is just a temporary bump after all... |
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Pillar of the Community
United States
3789 Posts |
ehhhh the strike is only a small part of it. Platinum and palladium have been strong performers for months now, no doubt market was anticipating this months ago and when the news finally hit, that gave the jolt.
The fact that both of these PMs are within striking distance of their yearly high is indicative of a stronger uptrend going forward.
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Pillar of the Community
United States
3345 Posts |
Platnium above gold!  I am very interested to see what this means in the long run. Th very fact that it is HIGHER than gold, never mind how much, is a factor for trading and will definetly make waves |
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Pillar of the Community
United States
4008 Posts |
Well, for one thing, it means that those of us who invested in Pt when it hit $1400 an oz. are smiling now.  |
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Valued Member
United States
344 Posts |
I saw that too. Maybe it's the speculators thinking about a trillion dollar coin.  |
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Pillar of the Community
United States
5839 Posts |
Ah, well... it was fun while it lasted! Gold is now at $1692 and platinum is at $1679. I wonder if we'll ever return to the days when platinum was considered the, er, "platinum standard" of precious metals...
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Pillar of the Community
United States
3789 Posts |
today's action in palladium and platinum is normal and should be viewed as constructive. Both needed a breather here.
i would be surprised they pulled in a bit more and then start again to run higher.
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Bedrock of the Community
United States
36606 Posts |
IF I had purchased Plat when it was $200 below gold, I'd be swapping for gold right now. Germany has asked the U.S. and France to return a part of their gold reserves held by them and the response was that it will take 7 years for that to happen. Guess it shows why gold has to be manipulated to the down side so that the banksters can purchase gold on the open market to replace what they have stolen over the years by reselling the same bars over and over. http://www.businessinsider.com/germ...dd1d7300001a |
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Pillar of the Community
United States
3670 Posts |
To late to get into platinum now, good move Ed back around 1400....
But Palladium pulling back big today may signal one of the last windows to get some around 700 an oz., if indeed its climb continues as my gut feeling tells me it will....
Edited by Silverhawk74
01/18/2013 2:17 pm
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Replies: 27 / Views: 2,952 |
Posted 01/16/2013 1:07 pm
