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 Replies: 11 / Views: 1,784 |
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Pillar of the Community
United States
3670 Posts |
So it seems like most of us would agree that there is at least a good chance gold an silver are on the steady move up (silver is just over 33 seconds ago, and gold is setting at 1401), but Platinum an Palladium have dropped 45 an 43 bucks each thus far today..... In my short novice time following these four medals, it seems like the two p's price fluctuation is very unpredictable. Perhaps now is the time to try an grab an ounce or two of Palladium, as it is setting right at 800 an ounce, not cheap, but well within the purchasing range of many of us I would think.... Any thoughts on that Pinky an the brain scheme  ? |
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Pillar of the Community
United States
3592 Posts |
Only spend what you can afford to lose...and that goes for all metals. Everybody on here could think silver will continue to rise and it could drop like a rock tomorrow...that's just the nature of the game. I don't even let myself use the word investment because it truly is a gamble or speculation.
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Bedrock of the Community
United States
10982 Posts |
Palladium is still up almost 100% in less than a year. It was around $410 last June and has been on the ride with equities it appears. Pd and Pt are heavily industrial and fell with the stock market today. I could see Pd falling under $700 soon.
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Pillar of the Community
 United States
3670 Posts |
You are dead on Maineman, as it is simply a gamble....
Good call bh1964, I may try an save an see if it drops that low, an try an buy a little at that time. They make palladium an platinum coins as well obviously, so perhaps 1/20th or 1/10th an oz would be a good way to start getting a bit here and there. I am in no hurry, like the turtle hoping to catch the hair sleeping under the tree near the finish line, lol....
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Pillar of the Community
United States
1285 Posts |
Pd and Pt are not for the faint of heart and can move violently in either direction (+ / - $100 to $200).
Pt has been steadily moving up on diesel engine sales. Europeans and developing countries (china and India) NEED a lot of diesel engines for trucks etc....
Germans "actually" prefer diesel engines for their cars as they are more "efficient" and have "perfected" the technology.
The cost of extracting Pt is going up every year as the miners have to go deeper into the mines and there are "serious safety issues" with the mines. Ergo, supplies will get tight and no one is going to mine it IF they cannot sell it at a profit and or jeopardize the safety of miners.
Pd is "technically" in deficit (demand greater than available supply).
To circle back do not be invested in here (Pt and Pd) without any of your own DD.
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Pillar of the Community
Australia
3831 Posts |
Zimbabwe is set to increase platinum production by 10-15% of the current global production within the next five years. That's a fair bit of platinum. The real problem is how expensive oil will be. It doesn't bloody matter how rare precious metals become, if trucks and so forth become too expensive to run because of the high oil price, it's not going to happen.
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Pillar of the Community
United States
3670 Posts |
My problem is I get to much on my plate, curse of being born year of the tiger so the folk lore goes, lol....
Bobby Jones the famous golfer who won all four majors as an amatuer an never turned pro (only human to do so) he did many things the rest of his life, lawyer, politics, sales, etc., but could not focus on just one project an become a true expert at what ever that might have been, and he was born in 1902, again year of the tiger, just as I was born in 1974....
Like Biggfredd said under another thread, something along the lines of probably best to pick one precious medal an focus on that, an outlets to move it when the time comes, but like a collector I jut am not to worried about moving it at the time, just enjoy viewing the coins in the end, no matter what the material is they consist of, or the current value the market says they are worth....
I am sure in time I will get some platinum and palladium coins as well. I even saw another material which names escapes me in coin form, rhodium perhaps, any thoughts on this metal and what it is basically?
I hate to jump tracks as I often do, but hey I started the thread an sometimes a thread needs to jump tracks to stay active an informative IMO....
Edited by Silverhawk74
02/28/2011 5:30 pm
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Pillar of the Community
United States
1285 Posts |
Higher "cost" gets passed on to the end users. Also 5 years is long way off and who knows what can happen in that part of the world. It's a somewhat "un stable" region of the globe so to say.  |
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Valued Member
United States
314 Posts |
Silverhawk, your post cracked me up. I was born in 1974 as well. I also find myself interested in this, that, moving on to something else. Year of the tiger is like having a mix of OCD and ADD. Good at alot of different things, Pro at nothing!
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Pillar of the Community
United States
3670 Posts |
I like that Ayejay1974 OCD an ADD well put. As well as the good at much but a pro at nothing, at least somebody out there relates, and I don't appear like miss Cleo, via putting to much stock in Astrology, lol....
By the way, not only is silver an gold up big today, but the two p's have looked to totally recovered back to where they were before dropping last week....
Also reading into what you guys say, diesel engines require palladium is this correct?
So as long as we are still counting on oil for fuel, as I expect it will still be another decade plus before lithium an other new forms move in an take over, so should the two p's not be a safe investment in the mean time?
But also, one must consider for certain larger machines that require so much more power will remain in use, would it not be safe to say?
Another words, the diesel engine is not going obsolete anytime soon or many other machines which require petroleum based fuel IMO. Correct me here if I am wrong here, but does that sound accurate?
Edited by Silverhawk74
03/01/2011 3:36 pm
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Bedrock of the Community
United States
14454 Posts |
yeah today was a huge day in the metal market just about all over the board. It got crazy
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Valued Member
Cyprus
349 Posts |
following the herd..that sounds familiar...but watch out below
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Replies: 11 / Views: 1,784 |
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Posted 02/22/2011 3:37 pm
