Platinum prices below $1000

[Master Shake]

This morning, I saw that Platinum had dipped below $1000. Obviously, that has a lot to do with decreased and projected industrial demand, especially in the auto market, but is it oversold at this point? It's at about 1.2 the price of gold. Or does this presage a drop in the price of gold?

[GRG55]

Re: Platinum prices below $1000

This morning, I saw that Platinum had dipped below $1000. Obviously, that has a lot to do with decreased and projected industrial demand, especially in the auto market, but is it oversold at this point? It's at about 1.2 the price of gold. Or does this presage a drop in the price of gold?

This is what EJ had to say about platinum on the 18th of Sept...

Platinum

Platinum is an industrial metal. Platinum demand is mostly catalytic converter demand and that is primarily auto demand. Remember, the financialization of US industry caused car companies to turn from businesses that made cars and offered loans to car buyers to banks that also made cars. They have to learn how to make money making cars again. That does not happen overnight. Between the recession and credit crunch, the auto business will be in a depression for a along time.

US demand for platinum will fall for at least five years. Maybe Asian demand rises to pick up the slack but don’t forget it’s US demand purchased on foreign account that created up to 50% of the US demand for foreign goods in the first place.

The most likely support for platinum prices is not demand for the metal but lack of demand for the currency in which it is priced: dollars. That value, the dollar hedge value, is better captured with gold. It's the fourth currency pure play.

We are being advised to choose our poison with care...;)

[xela]

Re: Platinum prices below $1000

Heh, silver got it worse, at one point -12% today. At what point would is it a bargain? ;)

[Tulpen]

Re: Platinum prices below $1000

I just took a small long position in uranium. Uranium is dipping below $50.

Also I am eying the nuclear industry, it is rock bottom low right now.

Perhaps tomorrow I will start a position in there as well and add more to my long uranium position.

[Chris]

Re: Platinum prices below $1000

I just took a small long position in uranium. Uranium is dipping below $50.

Also I am eying the nuclear industry, it is rock bottom low right now.

Perhaps tomorrow I will start a position in there as well and add more to my long uranium position.

Tulpen, would you mind describing the vehicle for going long uranium?

As for nuclear being rock bottom, I know a thing or two about that - rode it all the way down

I wonder if uraniums could move lower or sideways for a while longer? Especially the juniors.

[Tulpen]

Re: Platinum prices below $1000

Tulpen, would you mind describing the vehicle for going long uranium?

There are not many pure uranium plays possible at this time.

One option is the Uranium Participation Corporation. It is a company that stores and maintains a stock of uranium. Right now it is trading below the NAV.

http://www.uraniumparticipation.com/...vID=135&lang=1

[glebleu]

Re: Platinum prices below $1000

Note that in the U.S. the symbol is URPTF, not NAV.

[Tulpen]

Re: Platinum prices below $1000

Note that in the U.S. the symbol is URPTF, not NAV.

NAV stands for "Net Asset Value".

[Chris]

Re: Platinum prices below $1000

Net Asset Value (NAV)

[Tulpen]

Re: Platinum prices below $1000

I just took a small long position in uranium. Uranium is dipping below $50.

Also I am eying the nuclear industry, it is rock bottom low right now.

Perhaps tomorrow I will start a position in there as well and add more to my long uranium position.

Added more uranium. Also bought some Denison.

[LargoWinch]

Re: Platinum prices below $1000

All I know is that as of yesterday, Kitco is now also out of Platinum.

They have only this available for sale, which is not much:

Prices are in USD.

Product	Price	Quantity
Special Gold Maple 5 X 9 pure 1 oz	$913.31
Gold Bar 1000 g	$27,115.93
Kitco ChipGold 1 g	$34.35
Kitco ChipGold 2.5 g	$76.70
Kitco ChipGold 5 g	$148.35
Gold Philharmonic 1 oz	$879.80
Silver Bar 1000 oz	$11,890.00
Gold Maple Olympic Coin 1 oz (Canadian & US residents only)	$896.55

For my part, I do believe that now is a great entry point for all commodities, especially Platinum, Palladium, Silver and Grains.

Crude is still "not even" 50% off its all-time high, while Palladium for example is more than 66% lower than just 9 months or so ago.

If you believe there is inflation ahead: buy now during this great fall sale.

[touchring]

Re: Platinum prices below $1000

I just took a small long position in uranium. Uranium is dipping below $50.

Also I am eying the nuclear industry, it is rock bottom low right now.

Perhaps tomorrow I will start a position in there as well and add more to my long uranium position.

Thanks. But how do you know if it won't drop to 30?

By the way, i'm comparing URPTF with PWE, what do you think how canroys compares with URPTF at this moment?

[Tulpen]

Re: Platinum prices below $1000

But how do you know if it won't drop to 30?

I don't. But in the long term I am convinced uranium prices will rise dramatically.

By the way, i'm comparing URPTF with PWE, what do you think how canroys compares with URPTF at this moment?

As far as I understand PWE is not a pure uranium play.

Until we get a futures market in uranium Uranium Participation Corporation is the closest to a real uranium play. And they do not have paper assets as all the uranium is stored and owned by them.

[touchring]

Re: Platinum prices below $1000

pwe is a canadian oil/gas trust. i'm pondering whether to buy some.

http://finance.google.com/finance?client=ob&q=NYSE:PWE

I don't. But in the long term I am convinced uranium prices will rise dramatically.


As far as I understand PWE is not a pure uranium play.

Until we get a futures market in uranium Uranium Participation Corporation is the closest to a real uranium play. And they do not have paper assets as all the uranium is stored and owned by them.

[Tulpen]

Re: Platinum prices below $1000

Added more uranium and started a position in NLR.