Platinum - a buy right now? Better than Gold?

[Pete]

Hearing from friends in overseas countries and having to curtail holidays ( flew out yesterday and returning today by bus from the French alps ) the SHTF scenario is starting to build despite what Trump says. Anyhow trying to dip in at the lowest point can be fraught with danger. When the price hits bottom there is not availability for example. Then consider forex. I got €1.14 last week and €1.10 today. Best to take a punt, buy now as prices have dropped significantly. Most likely the price will drop a bit further but expect it to rise suddenly without warning then it's too late. Impossible to forecast anything.

[8phwt]

2 hours ago, Pete said:

Most likely the price will drop a bit further but expect it to rise suddenly without warning then it's too late. Impossible to forecast anything.

2008 - prices dropped from (approximately) $2250 to $750

Prices recovered - there was still a functional market for diesel cars in those days...

[Tattoedamat]

Everyone forgets one thing with diesel.....trucks and we have tighter emission regulations here in the UK than any car will ever have

[Pete]

Holy mackerel Batman - Platinum has just tanked !!
Get some while you can I reckon as everything else is turning to mush.

[ChrisSilver]

Topics merged 

[Pete]

Really strange to find the equities markets drop by 25-30 % yet gold this week has fallen 6%, silver and platinum around 18% and palladium 30%.
Where are all the "experts" now - gone kind of silent !!

I decided to double up and get some platinum because there is absolutely no reason that I can think of to justify its collapse.
Rigged market maybe ?

[Stuntman]

It's mad in the short term, I agree.

I've just bought a little bit of physical gold and a little bit of physical silver (both from RMB).  I can't find the 2020 Royal Arms Platinum coin for sale anywhere, otherwise I'd buy that tonight as well.

Hold tight and/or dive in folks! 

[Gabriel13]

Does anyone use the likes of Bullion Vault to purchase silver or platinum?

All allocated and you only pay the VAT if you withdraw, although there are some relatively high holdings you need such as 1000oz for silver and 1kg for platinum - a good way to get exposure to the price without ETFs? 

[DaKine]

I bought the 1/4 Charlie from the Royal mint and it came to $212.50 delivered here in the US. Seemed pretty cheap.

[FoolzGold]

GSBe has effectively no Platinum bullion in stock since yesterday - just a few one-off ultra-high premium coins available.

European Mint have a few more but the premiums are 31-35%, compared to 9-14% just a day or two ago.

As a concrete example of what this means, I actually bought a coin yesterday when the spot price was 16.5% higher but the current list price for the same coin today on EM is actually higher than I paid then.

[daca]

2 hours ago, FoolzGold said:

European Mint have a few more but the premiums are 31-35%, compared to 9-14% just a day or two ago..

Premium on  EuropeanMint is 21% for the cheapest 1oz pt coin .

 

[FoolzGold]

23 minutes ago, daca said:

Premium on  EuropeanMint is 21% for the cheapest 1oz pt coin .

 

Indeed, the premiums have dropped in the last couple of hours. The lowest was 31% when I posted. Might have to splash out on another coin.

[daca]

Platinum gone from GB.be with the exception of 2 proof items from BIG FIVE series  that carry                        150% premium

[Tattoedamat]

That spoils that cunning plan then

[FoolzGold]

European Mint still have a fairly wide selection of platinum bullion available as of tonight. Pt QB Falcon has sold out today though, so I wouldn't be surprised if others disappear soon. I've picked up a couple of items in the last few days as I still like Platinum even if people do say it's doomed.

Palladium Maple Leaf now out of stock too. No palladium options left on their site.

[daca]

2 minutes ago, FoolzGold said:

Palladium Maple Leaf now out of stock too. No palladium options left on their site.

Not sure what happened but  30 minutes ago 85% of the gold just started showing out of stock, now palladium, either someone broke the bank or system problem.

[Bullionaire]

Couldn't resist buying my first platinum (outside of cat converters in my cars) via the group order today after the recent slide in spot About £85 for a tenth britannia.

[Stuntman]

Royal Mint Bullion have plenty of stock of the Queen's Beast 1 oz coins.  With the price smashed down as it is, I have just ordered a Dragon and Unicorn to accompany my Lion.  Too good to miss IMO if you're happy to hold for years, even with the premiums and the VAT.

[daca]

It happened guys, EM is out of 1oz platinum coins                         

[FoolzGold]

Yep, all Platinum 1oz out of stock at EuropeanMint plus Palladium. 😐

[CadmiumGreen]

Even with Bullion Exchanges almost literally shut down because of COVID-19 impacts to NY, they managed to ship out my most recent order of 1 oz Platinum!😁

[DrakeSavory]

APMEX did not send out mine as promised  😢

I'll find out Monday (I hope) if they will send it out or if they'll just cancel my order.

[Tattoedamat]

I've just grabbed my 2nd Oz  earlier today 😀

[DrakeSavory]

(Pre) ordered my 2nd ozt this week.  I'm really thinking of ordering a 3rd one at prices this low because currently it is like palladium and rhodium i.e. a speculative metal.

[Melon]

1 hour ago, DrakeSavory said:

(Pre) ordered my 2nd ozt this week.  I'm really thinking of ordering a 3rd one at prices this low because currently it is like palladium and rhodium i.e. a speculative metal.

I'd be tempted if I could find a decent price anywhere