Ok, after observing and reading about platinum for quite a while I've decided to get myself onto this train.
After selloff of precious metals platinum got hurt as well. I've been waiting for a good entry point for quite a bit. At the time of the first post PT was at around 1700 in the process of falling down from it's highs.
Cliffs of my research:
- i love trade unions in South Africa. Like with all trade unions they strike more than work
. Thanks to them, production of PT fell down by 16% in 2012.
- continuous problems with electricity supply thanks to the gvmt monopoly (ESCOM)
- no real alternatives to South Africa. 87% platinum comes from there.
- high cash costs. Lots of mines already losing money.
- much much rarer than gold (although I'm long gold too and added to my position after selloff )
- lots of industrial uses
There is new south african ETF which has taken 371 000 ounces of PT from the market.
Based on the current situation I belive PT is longterm buy now. Let's gambooool (1383USD for reference) !!!
Is someone against before I buy
?
Last edited by HeadsUpLoser; 07-02-2013 at 04:41 AM.