Live Spot Gold
Bid/Ask
2,720.802,721.80
Low/High
2,691.502,723.00
Change
+28.30+1.05%
30daychg
+103.40+3.95%
1yearchg
+739.60+37.33%
Silver Price & PGMs
( 401 G. C. Wkend series, Oct. 19th, 2024)- Is it a good investment? I’m guessing so. Will the prices go up in the future? No one has a crystal ball to tell the future. Markets can remain irrational longer than you can remain solvent.
The thing to keep in mind with platinum is that it’s a useful precious metal that, at current prices, is being sold nearly at-cost to mine. If the price goes lower than it is now then it can’t stay there for long. Because of that the downside potential of platinum is almost nothing. If it doesn’t go up then your only losses will be opportunity cost.
That being said, it’s an element with a very small supply. It wouldn’t take much market movement into platinum to completely upset the current price. The same things have already happened with nickel and especially with rhodium. If somehow, in some way, even a tiny fraction of regular investors got ‘buy platinum’ into their heads then the price would explode.
Right now, platinum is cheap. If something is worth buying then cheap is the time to be buying it. Compared to gold and silver, platinum is historically cheap right now. Compared to its previous all time highs, especially when adjusted for inflation, it’s cheap right now. It’s a precious metal that’s somehow obnoxious cheap. What’s not to like?
Posted by:
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com