El Dorado 964 Posted December 15, 2008 Share Posted December 15, 2008 As of right now, gold ($837.80) is higher than Platinum ($833.00). I do not believe that I have ever seen this before. I know Pt took a dive after the auto bailout was voted against, maybe due to less demand for catalytic use... strange Quote Link to post Share on other sites
Dakota Slim 1,066 Posted December 15, 2008 Share Posted December 15, 2008 I agree that this is a strange event Steve. It actually sounds fishy. I wonder if there are middlemen between the auto companies and the producers and where the paper trail leads. Quote Link to post Share on other sites
Uncle Ron 1,491 Posted December 16, 2008 Share Posted December 16, 2008 Hey El Dorado Steve, Today I received the gold jewelry work you did for me...Beautiful craftsmanship and incredibly fast service and good pricing too!... Thank you very much for such a quick turnaround on a very important gift... I'll be sending you more gold nuggets for jewelry making....Happy Holidays to you and yours...Cheers, Uncle Ron Quote Link to post Share on other sites
Carl 1 Posted December 16, 2008 Share Posted December 16, 2008 Strange. I dont think it has ever happened before. doomsday guys with the big bucks buy gold i guess. The ones I know buy silver. :confused0013: You see the same disconnect in the summer 2001, gold was$270 and holding, platinum plummeted to $450. Looks like a good time to sell gold and buy platinum, who knows though, maybe golds going to $1500 Carl Quote Link to post Share on other sites
Micro Nugget 770 Posted December 16, 2008 Share Posted December 16, 2008 I think the run-up in AU vs. PT is driven somewhat by super rich folks trying to find secure ways to park their money. In other words, as they bail out of a scary stock market they have limited "safe" options (banks not being one of them because FDIC insurance is limited to the low 6 figure folks whereas I'm referring to the 9 digit and up guys). They can park it in T-bills at virtually no interest (and zero risk as T-bills are guaranteed for full value) or they can buy into gold. Holding so much gold carries some risk, but I think the long term gamble is that it is not going to go down much and in an extreme depression scenario will be preferred over paper currency. The possible bankruptcy of GM and Chrysler means PT will not likely be in great demand for a while. Nor is it so universally recognized as gold or silver as a medium of exchange within the financial world. Copper also has taken a very big nosedive. Note that the AU/AG ratio has been fluctuating between the mid 70s and mid 80s for about a month now. Quote Link to post Share on other sites
Carl 1 Posted December 19, 2008 Share Posted December 19, 2008 This is an interesting chart. You can scroll back to 2001, looks simular except silver muddeled around with pt this time. Where will the lines cross next? http://stockcharts.com/charts/performance/...at,$silver Carl Quote Link to post Share on other sites
Randy Wright 0 Posted December 20, 2008 Share Posted December 20, 2008 That is cool!! Quote Link to post Share on other sites
Nugget Shooter 4,614 Posted December 26, 2008 Share Posted December 26, 2008 Indeed an interesting turn of events perhaps related to the increased purchase of gold in world electronics markets also is playing a part? Quote Link to post Share on other sites
FlakMagnet 412 Posted December 26, 2008 Share Posted December 26, 2008 MicroNugget and all, Aren't governments and 9-figure rich folk also buying up gold in large amounts? I have read lately that they have, but don't know how reputable the information was... Flak Quote Link to post Share on other sites
neversweat 0 Posted December 29, 2008 Share Posted December 29, 2008 :grrr01: I wish someone would tell the "midnight auto parts" that pt. isn't worth as much as it used to be.That I know of,we've been hit 6 times with someone cutting the catalytic convertors off parked cars.Just last night a car was hit for the convertor in our front parking lot.I wonder how much "time" I would get for peppering a backside with bird shot??? :PO2: Quote Link to post Share on other sites
wyndham 1 Posted December 29, 2008 Share Posted December 29, 2008 There's still a shortage in gold coins as well. I heard that about 2 weeks ago. You can always buy bread with gold but maybe not PT????? Wyndham Quote Link to post Share on other sites
lvlagnum 0 Posted December 29, 2008 Share Posted December 29, 2008 Hello again, everyone. These are certainly strange times that we are living in. It wasn't too long ago that platinum was two or three times the price of gold. I understand that the lower price of platinum is in part caused by the reduced demand from auto production but some folks are saying that the prices of all precious metals are being artificialy held down to prevent a panic by the public. We shall see. Cheers, lvlagnum. Quote Link to post Share on other sites
grubstake 658 Posted December 30, 2008 Share Posted December 30, 2008 The higher Gold, Silver, Platinum go, the less the dollar is worht, so I think the gov. has alot to do with it. Also I saw on the news, there trying to promote the new dollar coin, as they want to do away with $1 dollar bills, cost them more to make and replace, also they said the dollar coin could be 100% recycled. Grubstake Quote Link to post Share on other sites
sonnysnewlife 0 Posted December 30, 2008 Share Posted December 30, 2008 The higher Gold, Silver, Platinum go, the less the dollar is worht, so I think the gov. has alot to do with it. Also I saw on the news, there trying to promote the new dollar coin, as they want to do away with $1 dollar bills, cost them more to make and replace, also they said the dollar coin could be 100% recycled. Grubstake OH God, here comes all the commercials about the "new Coin" and how you want to get yours first! Makes sense though eh? I have longed to find a 20 dollar gold piece with my Gold bug! Quote Link to post Share on other sites
OldSkool Fool 1 Posted January 1, 2009 Share Posted January 1, 2009 :grrr01: I wish someone would tell the "midnight auto parts" that pt. isn't worth as much as it used to be.That I know of,we've been hit 6 times with someone cutting the catalytic convertors off parked cars.Just last night a car was hit for the convertor in our front parking lot.I wonder how much "time" I would get for peppering a backside with bird shot??? :PO2: Well I assume you are joking about the birdshot in the backside... but in case you are not... Grandpa always used to unload the birdshot and replace it with rock salt for all the vandals... Quote Link to post Share on other sites
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