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Message
Platinum Investment....as in Precious Metals
Posted on 10/27/18 at 11:45 pm
Posted on 10/27/18 at 11:45 pm
Recently advised my father in law to get into Platinum. 14 year historically low. 80% of South Africa production(i.e. shithole with usntable political environment) and it's 14 year historical low. Gold to platinum ratio is completely out of whack. If we hit a big correction, i.e. recession, it could go up to 1500-1800 easily by 2020.
He put in 50k in physical bar and I stand to gain 25% of gains if it pans out, which would be a nice "thank you" gesture. If doesn't pan out, he's just gotten himself a secure investment. All the talk of diesel dying out, is BS. Big transportation trucks aren't going anywhere(how else will you move heavy loads at an affordable price) and people are more and more in US getting into diesel. Not to mention this is the only precious metal that you cannot economically viablby counterfeited due to density being 21g/cm3, which is 10% more than tungsten(which is around $30/lbs). Gold can be counterfeited with tungsten having almost the same density.
He got in at average of $830/ounce(wish I waited to tell him till it dropped to 770s, but it's now back up to 830s again).
He put in 50k in physical bar and I stand to gain 25% of gains if it pans out, which would be a nice "thank you" gesture. If doesn't pan out, he's just gotten himself a secure investment. All the talk of diesel dying out, is BS. Big transportation trucks aren't going anywhere(how else will you move heavy loads at an affordable price) and people are more and more in US getting into diesel. Not to mention this is the only precious metal that you cannot economically viablby counterfeited due to density being 21g/cm3, which is 10% more than tungsten(which is around $30/lbs). Gold can be counterfeited with tungsten having almost the same density.
He got in at average of $830/ounce(wish I waited to tell him till it dropped to 770s, but it's now back up to 830s again).
This post was edited on 10/27/18 at 11:49 pm
2
Posted on 10/28/18 at 9:39 am to CobraKaiNeverDies
I've always been interested in commodities but havent dive into them much. However, just purchased an engagement ring and studied platinum when looking for a setting. I read the same thing about diesel as you did. My thoughts are, with the price coming down, it's going to make more people look for new uses which will make the price go back up. I know that's very basic, but fundamentally, it seems like a great investment.
Posted on 10/28/18 at 1:52 pm to CobraKaiNeverDies
I consider it a must to have significant investments in precious metals. Not only is it great to have during uncertain times (like we perhaps may be entering now) but its also guaranteed to always have value in case the shite ever hits the fan.
Posted on 10/28/18 at 3:45 pm to arkiebrian
It is not guaranteed to have value...
Posted on 10/28/18 at 3:51 pm to lynxcat
What sort of scenario do you imagine where precious metals don't have value?
Posted on 10/28/18 at 9:47 pm to lynxcat
quote:
It is not guaranteed to have value...
Right, because historically precious metals became worthless like paper currencies. Oh wait, is it the other way around?
PL, Gold and Silver have been used in jewelry for thousands of years and as currency and backed US economy at one point(see why Fed did away with it-has to do with inflation and desire to grow debt).
In more utilitarian uses it's a great top notch conductor of electricity. So it can't be worthless unless there's an solar flare EMP, in which case it will skyrocket in price because it will be used as currency that is impossible to counterfeit.
Is that enough for you? I could go on.
quote:
What sort of scenario do you imagine where precious metals don't have value?
He doesn't. Just talking out of his arse and disliking my posts.
This post was edited on 10/28/18 at 9:48 pm
Posted on 10/29/18 at 7:00 am to arkiebrian
quote:
What sort of scenario do you imagine where precious metals don't have value?
They will never be "worthless", however their utilitarian value isn't what I would call good.
Some people (Dave Ramsey listeners) love to preach about the failures of Gold and Silver as investments, and they're half right.
As a long term investment, they suck. That's not really disputable when you compare it to the stock market and real estate.
But they do have their place, as a hedge. Historically, when the market crashes, precious metals spike, so it's always a good idea to have at least some in your portfolio.
I just own some physical bars and coins. Never really looked at platinum tho, but I might now.
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