how low do you think platinum prices will get?

[denverboy]

I''m no market expert, and I''m not looking for a detailed analysis and prediction - just your thoughts. I''ve read in an article that prices are expected to start rising next yr about $2000/oz. Right now they are hovering around $1350/oz.

Just FYI, i''m not going to base my ER purchase on the market trends, whatever the price is i''ll probably get something between now and the end of the yr.

 

[Adylon]

If I knew I'd be a rich man

My guess is that platinum will stay where it is now +/-$200 for the next year or so. But I think eventually within a few years it will go back up, beyond $2000, possibly $3000. Just my 2c

 

[sklingem]

A recent discussion with an "industry expert" pointed to the drop in platinum prices as a direct consequence of the auto industry''s struggle right now, since platinum is used in catalytic converters. If that is indeed the case (gold has not dropped as much, right?), the future of platinum prices may hinge on developments in that sector. I would guess that prices will NOT go up significantly from today''s levels any time soon.

 

[first123]

Several gold companies have been upgraded this week.

Here is what an analyst at RBC Capital Markets had to say about Yumana and the gold industry:

In a note to clients, RBC analyst Michael Curran said he viewed the drop in gold prices in recent months as "the summer doldrums."
"Whether or not last Friday''s intraday low of $772/oz proves to be the summer 2008 low for gold, we believe many gold equities are at attractive entry points for a subsequent seasonal rally in the fall or later this year," Curran wrote

from: http://money.cnn.com/news/newsfeeds/articles/apwire/ba1c502d8cb3c930392d7daa742a9666.htm

Sorry it''s not directly related to platinum.

 

[strmrdr]

No one really knows.
The $2000 price was speculation on a weak dollar and continued demand.
The dollar went up a bit and the demand dropped a lot.
By next year no platinum will be used for automotive use. (according to an automotive engineer I know)
That will put a lot of plat on the market with few buyers.
It would not shock me to see the price of plat fall below gold for a short period.