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 Replies: 8 / Views: 1,112 |
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Valued Member
United States
310 Posts |
Crazy day
Currently Gold is $1719 an ounce and platinum is $1723
Who would have thought Gold would = Platinum
Makes me wonder since platinum is an industrial metal, if it's a reflection of industry, or if Gold is just being overbought.
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Pillar of the Community
United States
931 Posts |
I would buy Platinum but Gold has been very very good to me so I'm dancin' with the girl that brung me.
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Pillar of the Community
United States
570 Posts |
I remember a few years ago when gold was more than platinum. I believe they were both in the $900 range. That is when I picked up some platinum for real cheap  . Prices will continue to fluctuate as gold right now is in higher demand than platinum. Lots of people are buying gold as bullion for inflation purposes, but industries aren't buying as much platinum for products as consumers aren't spending as much these days. |
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Pillar of the Community
United States
1150 Posts |
Gold is a monetary metal, platinum is, like you said, an industrial metal. This is why we are seeing gold = platinum in price. Eventually, with the flight from fiat dollars, we will most likely see gold surpass platinum.
This is pure conjecture, however wouldn't it be nice to see silver rise above platinum?! Monetary metals (Gold/Silver) will ALWAYS be king.
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Pillar of the Community
United States
1817 Posts |
Platinum was once worth less than silver, comes from the Spanish for "little silver." So that day might just come again.
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Pillar of the Community
United States
1064 Posts |
Gold just seems to have that mystique, not sure if platinum would ever be looked at in the same light...
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Pillar of the Community
United States
1391 Posts |
They once used platinum to counterfeit gold coins back in the 1800's. Maybe we will see that day again? Platinum seems to be more of an industrial metal so it might go down with the lack of demand. I wish it would as I wouldn't mind getting some nice half-union coins.
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Valued Member
United States
362 Posts |
Its a very exciting time...but I cant help but feel like another gold crash is coming. I know there have been a couple of times in history where gold skyrocketed, and then a year later absolutely crashed.
I am actually tempted to start selling my gold by the end of the year. I also find it strange how, much gold is skyrocketing, and silver is having trouble breaking out past 40$ an ounce.
Anyone else think that gold will crash by the next couple of years? I for one really have no clue what's going to happen lol
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Pillar of the Community
United States
4008 Posts |
Quote:
Gold just seems to have that mystique, not sure if platinum would ever be looked at in the same light... I agree, Jack. For one thing, platinum LOOKS like silver and gold is worth MUCH more than silver. Platinum does not get the respect it deserves, IMHO. That said, gold and silver have been monetary metals for millennia. It is still in our sub-conscious minds that both gold and silver ARE money... unless you happen to run the US central bank, of course. In any case, when people want a pure PM play of high value, they always head straight to gold. Platinum and palladium are PMs too but they are closely allied with industry, primarily as jewelry and as catalysts. If industry is having a hard time, then these two metals will suffer lower demand and prices as a result. Gold, on the other hand, has few industrial uses so is not tied to industry for its primary uses or value. |
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Replies: 8 / Views: 1,112 |
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Posted 08/08/2011 1:09 pm
