What is up with platinum?

[jim4silver]

Based on all of the fundamentals, platinum should be going up in price. There is a projected deficit this year in production/demand, Russia (a big producer) is not likely to "share" their stash with the US and others due to all the stuff going on, and the instability and long lasting strikes in Africa where up to 70% of all the platinum in the world comes will mean much smaller annual yields this year. Estimated use in 2015 is going to be higher than 2014 .

Yet the price gets whacked daily in huge amounts. If annual demand is outstripping annual supply, and the places where the metal is mined are going to report much lower annual yields (due to the 5 month strike this year that just ended) this year, why is the price getting whacked daily in the PAPER markets?


Just my opinion.

Jim

 

Amazon Forum Fav 👍

Agony and Death on a Gold Rush Steamer: The Disastrous Sinking of the Side-Wheeler Yankee Blade - Grab it through Amazon!

[pronghorn]

Isn't it simple manipulation by the powers that be, same as silver?
I am a nobody in this game, but casual observation tells me the big money people can do whatever they want with precious metal prices.

 

[Marchas45]

Jim isn't this the time you should be cashing in on your Platinum and buying Silver? It's well over 70-1 and I believe a great time to make the switch. I have been doing it with some of my Gold. Keep Stacking

 

[jim4silver]

Jim isn't this the time you should be cashing in on your Platinum and buying Silver? It's well over 70-1 and I believe a great time to make the switch. I have been doing it with some of my Gold. Keep Stacking

Charlie,


Platinum is getting whacked again tonight it seems. I don't have any platinum right now. I might buy some down the road if it keeps dropping.

This is one metal right now whose fundamentals are bullish but the price gets dropped in the paper markets like its child's play. There are no reasons why the price should be dropping. All the projections are for supply deficits for the next few years.

I read something recently that said these falling prices in PM's are being done on purpose by whom? but are against the BRICs who are heavy into PM's, etc. I don't know if that is true or not. It would seem to favor the BRIC's since they can buy more cheaper just like PM bugs here.

Just my opinion.

Jim

 

[Marchas45]

There's a big reason why the Platinum dropped. Remember there's a lot of sanctions against the Russians and they are one of the biggest suppliers of Platinum. Lol But no worries it came up $60. Lol