gus in idaho Posted October 29, 2008 Report Share Posted October 29, 2008 Back a few months ago when gold was around $1000.00, platinum was soaring around $2,000.00.As I type, Kitco shows Gold at $755.00 and Platinum is $799.00. Anyone know why it has fallen so dramatically in value, compared to gold?And wouldn't now be a great time to buy some?Gus- Quote Link to comment Share on other sites More sharing options...
grubstake Posted October 29, 2008 Report Share Posted October 29, 2008 Since Russia was one of the biggest producers of platinum, I think they have been selling off to build there military back. Grubstake Quote Link to comment Share on other sites More sharing options...
matt Posted October 29, 2008 Report Share Posted October 29, 2008 Gus,The economy appears to be what happened to pt. The two main uses of pt are 1. car/truck exhaust systems and 2.jewelry. With the car market in a decline, speculation is that less pt will be needed in the near future. The jewelry market is very small. The other use is for investment purposes and pt is the smallest of the big three investment metals in comparison to silver and gold. Gold and silver have been used as money for years. According to articles that I have read, pt is used in fuelcell technology and some batteries. Catalytic converters are not a requirement throughout the world in such places like China where the economy is not as bad as here. With the decline in price of pt, the cost to mine it exceeds the cost to sell it, so in turn there should be less production. Hopefully supply will shrink and demad will increase. Since the price of pt is close to 1:1 with the price of au right now it seems like a good buy because it is the most rare of the big three precious metals. Hope this helps a bit. Take care.Cheers,matt Quote Link to comment Share on other sites More sharing options...
Allen in MT Posted October 29, 2008 Report Share Posted October 29, 2008 Well look at what Rhodium did in the last 4 months. From over $10,000.00 down to $1500.00. A friend of mine was wondering where he could get an ounce of Rhodium. Anyone know how it is sold?? Just for a show and tell along with the ounce of silver, gold, platinum, palladium. Allen in MT Quote Link to comment Share on other sites More sharing options...
gus in idaho Posted October 29, 2008 Author Report Share Posted October 29, 2008 Matt,Thanks, your reply makes sense.Do you have any idea how much platinum is used in a standard catalytic converter?I have heard there was some issues with people having them stolen out from under their automobiles.I even heard a far fetched story that they were looking into trying to collect the tiny particles of platinum left by the catalytic converters on the edges of busy roadways. But the idea was just not feasible.Allen,Good call on the Rhodium. I have been watching that as well, but I really don't know very much about it, or what its even used for.Gold is down 2-3 hundred and ounce, but it seems to be holding its value the best out of all the precious metals.Gus- Quote Link to comment Share on other sites More sharing options...
matt Posted October 29, 2008 Report Share Posted October 29, 2008 Allen,The only place I have personally seen it sold is through a pool account at Kitco. I know that a person can take delivery of their holdings from the pool account, but I am not sure about Rhodium. The bid/ask difference is huge. Check it out under the Precious Metal Store at Kitco. Take care.Cheers,matt Quote Link to comment Share on other sites More sharing options...
grubstake Posted October 29, 2008 Report Share Posted October 29, 2008 Gus, only about a 1/2 of an oz in a coveryer, and it has to be crushed, as its in porcilin pellets, and then has to be leached out, They had a program on the history channel about it, Rodium is used to plate cheap jewlery, as it doesn't tarnish or corode, it has other use's to in electronic's. Rodium is soo expencive because its so hard to separate and refine. Grubstake PS its a fact, that when the Russians were up-gradeing there equipment, they sold off tons of platinum, to pay for it. Just look at all the Platinum Blonds running around! Grubstake Quote Link to comment Share on other sites More sharing options...
matt Posted October 29, 2008 Report Share Posted October 29, 2008 Gus,Stolen catalytic converters is getting to be a big deal in California. I read that the larger type vehicles are the main target of the thieves. I don't know how much each converter contains or why they target the bigger vehicles, but maybe because it is easier to get underneath to cut the converters out. Same thing with copper theft. I work on schools and they are now welding junction boxes closed to prevent copper theft. Take care.Cheers,matt Quote Link to comment Share on other sites More sharing options...
Allen in MT Posted October 29, 2008 Report Share Posted October 29, 2008 Matt,Thanks, your reply makes sense.Do you have any idea how much platinum is used in a standard catalytic converter?I have heard there was some issues with people having them stolen out from under their automobiles.I even heard a far fetched story that they were looking into trying to collect the tiny particles of platinum left by the catalytic converters on the edges of busy roadways. But the idea was just not feasible.Allen,Good call on the Rhodium. I have been watching that as well, but I really don't know very much about it, or what its even used for.Gold is down 2-3 hundred and ounce, but it seems to be holding its value the best out of all the precious metals.Gus-Uses of Rhodiumhttp://platinum.preciousmetalinvestment.co...m/rhodium-uses/ Quote Link to comment Share on other sites More sharing options...
wes Posted October 29, 2008 Report Share Posted October 29, 2008 My friend runs a repair shop and told me last year they were selling their old cats for up to $200 each to a recycle guy. Had to be OEM cats as they are the ones loaded with the rare metals. Right now though they are not worth much, and I dont think the thieves are bothering with them, or they are just stockpiling. Deflation of all metals. I guess the bubble popped. Quote Link to comment Share on other sites More sharing options...
wyndham Posted November 1, 2008 Report Share Posted November 1, 2008 Rhodium and platinum wires are used to make thermocouples for high temp kilns and furnaces. I have one kiln that has one of these and it's about 6" long in a ceramic tube the wire is about 30 ga or less and cost $210. That's down about $100 when rhodium was higher. I wonder if this is just a dip and prices will rebound back after the "E-lection"Later Wyndham Quote Link to comment Share on other sites More sharing options...
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