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View Full Version : Gold's about to pass Platinum....



JJ.G0ldD0t
7th August 2011, 07:32 PM
I can't say that I never thought that I would see the day...

But WOW. There it is - within 20 bux- easy striking distance. Wish I had an article to go with it ... Just a crazy observation.

BrewTech
7th August 2011, 07:50 PM
Au and Pt reached parity back a couple of years ago... 2009?

Sparky
7th August 2011, 08:13 PM
Au and Pt reached parity back a couple of years ago... 2009?

I don't think so. This is quite a development.

BrewTech
7th August 2011, 08:21 PM
Yes, they did, sir. I'll get back to you with the date.

Sparky
7th August 2011, 08:27 PM
Yes, they did, sir. I'll get back to you with the date.

OK.

JohnQPublic
7th August 2011, 08:29 PM
I recall Au passed Pt, also, but I'll wait for the date.

Pd is being punished tonight.

mamboni
7th August 2011, 08:33 PM
Platinum is a hell of a lot rarer than gold, economic depression or not. This seems like a screaming buy to me.

BrewTech
7th August 2011, 08:37 PM
Friday, Dec 12, 2008 - passed each other intraday...



A fall in international platinum prices that brings it nearly on par with gold, could boost the demand for the white metal, but not at the cost of gold, traders and retailers said on Friday.

Since both gold and platinum prices are at a similar level, platinum demand would prop up at the current levels, said Mukul Sonawala, partner of Narrondass Nanordass, a bullion trading house in Mumbai.

On Friday, international platinum, which depends on carmakers for a huge portion of demand, traded at US$800/oz after it fell to a session low of US$793/oz after the collapse of a US$14 billion bailout for troubled US automakers, lower than gold which was at US$815.40/oz.


http://www.mining-journal.com/production-and-markets/platinum-trading-close-to-gold-parity

Sparky
7th August 2011, 09:12 PM
Friday, Dec 12, 2008 - passed each other intraday...




http://www.mining-journal.com/production-and-markets/platinum-trading-close-to-gold-parity

I stand corrected. It looks like gold also moved briefly ahead again during the following week, for about a 48-hour period during Dec 16-18. Good catch, BrewTech.

JJ.G0ldD0t
8th August 2011, 04:17 AM
heh.. Nice work BT.

Interesting- that was back when the DOW was well into the crapper.

http://dowjonesclose.com/2008.html


news from that day:



Commodities Closing Prices - 12/12/08

Gold - 820.50
Oil - 46.69
Natural Gas - 5.56

The Dow Jones Industrial Average closed at on 8629 12/12/08, as we got horrible auto bailout news (http://daytradingstockblog.blogspot.com/2008/12/auto-bailout-fails-121208-dow-futures.html) last night which pushed the stock market futures down in a big way this morning. The Dow Jones bounced off of 8150 (http://daytradingstockblog.blogspot.com/2008/12/dow-jones-analysis-121208-stock-market.html) in pre market trading this morning and it will all up hill from there. This is the second straight Friday where the stock market has gone up on bad news, a very positive sign. The Nasdaq was the strongest market today as Tech Stocks rallied the most. I love the Nasaq over 1500 and the Dow Jones over 8500 so as long as they stay over those two levels, they will be fine. The bailout is still not a done deal and the White House has yet to act. Many think the money will come from the TARP program. Next week will be a busy week! We have the Fed Meeting as well as Goldman Sachs ( GS ) earnings December 16th. I will have full technical analysis of the markets over the weekend Right Here (http://daytradingstockblog.blogspot.com/search/label/support%20and%20resistance%20levels).http://daytradingstockblog.blogspot.com/2008/12/dow-jones-close-121208-stock-market.html

BrewTech
8th August 2011, 07:22 AM
The reason I remembered was that my job was going to be directly affected by that auto bailout business that was going down, and we were watching platinum prices because of their use in automotive catalysts. Au/Pt parity was indeed a big development, so it stuck in my head. Less than a month later the automotive retailer I was working for went out of business! ;)

JJ.G0ldD0t
8th August 2011, 08:07 AM
I here All this time I just thought you were some kind of premier PM's analyst with a photographic memory :D

DMac
8th August 2011, 12:31 PM
AAAAAAAAAAAAAAAAAAANNND.....it's gone.


Gold is more expensive than platinum.

JJ.G0ldD0t
8th August 2011, 12:42 PM
yep just noticed....


Now what?

lol

ximmy
8th August 2011, 12:44 PM
yep just noticed....


Now what?

lol

4 digits for Gold, Platinum, Palladium... Silver to remain at two... ;D ::)

DMac
8th August 2011, 12:47 PM
Trade silver for platinum?


yep just noticed....


Now what?

lol

JJ.G0ldD0t
8th August 2011, 12:59 PM
Trade silver for platinum?

naa I'll keep my silver.
Can you imagine trying to buy eggs with platinum rounds?

:D