Time to take some profits in Pt?

[Stuntman]

The spot price of Platinum has risen considerably over the past few weeks and is about £916 per oz as I type.

I'm thinking of selling some units in my ETF at these levels to lock in a bit of profit. 

I'm in no particular hurry to sell, and had originally thought I might take some profits if the price got to £950 per oz - but if people think there's still plenty of upside even at £916 per oz then I'm all ears.  I definitely won't sell all of my ETF units at today's levels.

Does anyone else have a view on Platinum at the moment?  Good time to sell, or keep the faith?

[Wileyfox]

2 hours ago, Stuntman said:

Does anyone else have a view on Platinum at the moment?  Good time to sell, or keep the faith?

I'm bullish on platinum. It is a small market and if/when gold breaks its all time high in USD terms then platinum will have a lot of catching up to do.

It has just broken out of its long term downtrend. The market will have noticed this and whilst there may be a short term pullback/consolidation I think the general trend will be up from here.

My price target is 1oz of platinum to equal 1oz gold and my timescale is 5 years.

Long term view USD - downtrend is broken

 

Multiyear view USD - The pattern of lower highs and lower lows has changed. We now have a higher low and and higher high i.e. an uptrend

[StackemHigh]

I'd like to see Pt at around £950 but my view is that it will fall to around £800-850. The premiums will stay high on Pt bars and coins.

[Pete]

Don't forget that Platinum used to be higher priced than gold.
Why it is well below gold I don't know because Pt is rarer and more expensive to mine.
In jewellery it was historically seen as more precious than gold.
Some will say the price fell due to low industrial demand but what would happen if overnight the hydrogen market took off, fuel cells took off, water purification took off, maybe Elon Musk shows interest .... ???
Just maybe however gold is too high and at some point will collapse - who knows ?

I am holding onto my Pt as making a small profit now isn't really of any interest.
I sold most of my gold a while back and now wish I hadn't as it has risen a lot since.
Same could happen with Pt so unless you require the cash I would hold.

[ZRPMs]

I must admit, the humble sovereign is my preferred indulgent. However I do have just under 4 oz of platinum. Like silver its the tax that it attracts that puts me off it. If the tax situation were to alter then I would expect a big change in its popularity and a marked increase in the price. I think I'll just hold for now.

[Stuntman]

I'm keeping hold of my physical platinum, but the ETF holding will definitely be turned into cash in the next few years, if not sooner.

[arphethean]

On 22/04/2023 at 19:06, Pete said:

Don't forget that Platinum used to be higher priced than gold.
Why it is well below gold I don't know because Pt is rarer and more expensive to mine.
In jewellery it was historically seen as more precious than gold.
Some will say the price fell due to low industrial demand but what would happen if overnight the hydrogen market took off, fuel cells took off, water purification took off, maybe Elon Musk shows interest .... ???
Just maybe however gold is too high and at some point will collapse - who knows ?

I am holding onto my Pt as making a small profit now isn't really of any interest.
I sold most of my gold a while back and now wish I hadn't as it has risen a lot since.
Same could happen with Pt so unless you require the cash I would hold.

I think there is a future in platinum if there is a future in hydrogen.

Comparison with gold on rarity or industrial demand is quite irrelevant in my opinion as they are traded very differently. There is negligible demand in platinum as an investment metal - it is predominantly an industrial metal, so it's  price behaves according to industrial demand. Low current demand = low price. Gold is traded predominantly as an investment metal with exceptionally high demand and far more liquid.

It is nice to see a 10+% rise in platinum, but I am not entirely sure why that has happened - if anyone has insight please share. Will it go further? Only with a cause. It has been stagnant around £700-£800 for a good couple of years.

In the past 10 years the platinum price has been more stable gold - never going above £1000 or below £550 (although gold has had more of a generally upward trajectory and platinum has fluctuated around the same level).

[ShropshireTom]

On 22/04/2023 at 19:06, Pete said:

Don't forget that Platinum used to be higher priced than gold.
Why it is well below gold I don't know because Pt is rarer and more expensive to mine.
In jewellery it was historically seen as more precious than gold.
Some will say the price fell due to low industrial demand but what would happen if overnight the hydrogen market took off, fuel cells took off, water purification took off, maybe Elon Musk shows interest .... ???
Just maybe however gold is too high and at some point will collapse - who knows ?

I am holding onto my Pt as making a small profit now isn't really of any interest.
I sold most of my gold a while back and now wish I hadn't as it has risen a lot since.
Same could happen with Pt so unless you require the cash I would hold.

I did the same. Cashed in what I thought was a healthy profit and paid for a house extension. If I’d have kept it all (some of it had been with me for 20 years….) I could have paid off the mortgage and still had an extension.

On platinum, I also hold. I remember the premium to golf days and often think - if nothing else, surely at some point people will think gold looks too expensive against platinum and maybe just gold stackers diversifying will drive up the price. Or not, I never call these well - but then again I also don’t lose so I can’t complain.