Platinum is on SALE!

[WinkHPD]

Although both metals are up about nearly $40 dollars today the spread between gold and platinum are ridicules.

Gold is as I write this at $763 and less than $100 higher is Platinum at only $848.

In February OF THIS YEAR Gold hit a high at $1,002.80 and Platinum at $2,252.

There is traditionally a much larger spread between gold and platinum than exists today, and although times are tough, it is my contention that Platinum is on Sale at this time.

If you got a quote from someone that you felt you could not afford in the last six months, it might be a good time to contact them again and see if pricing is not a LOT better. I got a quote for a client of mine for platinum rings yesterday that was actually less than what I would have quoted six months ago for gold! I was SHOCKED! He was pleased!

Who knows where the metals will be tomorrow or six months or a year from now, but I am guessing/betting that platinum will no longer be on sale once the elections are over and life starts to resume...

Wink

 

[diagem]

Date: 11/4/2008 4:44:10 PM
Author:Wink
Although both metals are up about nearly $40 dollars today the spread between gold and platinum are ridicules.

Gold is as I write this at $763 and less than $100 higher is Platinum at only $848.

In February OF THIS YEAR Gold hit a high at $1,002.80 and Platinum at $2,252.

There is traditionally a much larger spread between gold and platinum than exists today, and although times are tough, it is my contention that Platinum is on Sale at this time.

If you got a quote from someone that you felt you could not afford in the last six months, it might be a good time to contact them again and see if pricing is not a LOT better. I got a quote for a client of mine for platinum rings yesterday that was actually less than what I would have quoted six months ago for gold! I was SHOCKED! He was pleased!

Who knows where the metals will be tomorrow or six months or a year from now, but I am guessing/betting that platinum will no longer be on sale once the elections are over and life starts to resume...

Wink

Wow..., we agree on this one..., and strongly I may add!!!

If I am not mistaken...., there where like three times I remember in the last 25 years that Plat was below Gold..., and each of these times whomever bought Plat made a profit in this specific position...

I agree..., Platinum is on SALE..., good point Wink

 

[strmrdr]

and its going to stay that way.
The biggest market was in automotive and that is gone for good.
The plants have been converted and wont be converted back.

 

[diagem]

Date: 11/4/2008 5:02:44 PM
Author: strmrdr
and its going to stay that way.
The biggest market was in automotive and that is gone for good.
The plants have been converted and wont be converted back.

Then according to your opinion...., gold is too on the way down!

 

[strmrdr]

Date: 11/4/2008 5:09:22 PM
Author: DiaGem

Date: 11/4/2008 5:02:44 PM

Author: strmrdr

and its going to stay that way.

The biggest market was in automotive and that is gone for good.

The plants have been converted and wont be converted back.

Then according to your opinion...., gold is too on the way down!

Gold in manufacturing is way down but its only a small part of the gold market.
long term yes gold is going down its in a panic bubble right now.

 

[WinkHPD]

Date: 11/4/2008 4:50:19 PM
Author: DiaGem

Date: 11/4/2008 4:44:10 PM
Author:Wink
Although both metals are up about nearly $40 dollars today the spread between gold and platinum are ridicules.

Gold is as I write this at $763 and less than $100 higher is Platinum at only $848.

In February OF THIS YEAR Gold hit a high at $1,002.80 and Platinum at $2,252.

There is traditionally a much larger spread between gold and platinum than exists today, and although times are tough, it is my contention that Platinum is on Sale at this time.

If you got a quote from someone that you felt you could not afford in the last six months, it might be a good time to contact them again and see if pricing is not a LOT better. I got a quote for a client of mine for platinum rings yesterday that was actually less than what I would have quoted six months ago for gold! I was SHOCKED! He was pleased!

Who knows where the metals will be tomorrow or six months or a year from now, but I am guessing/betting that platinum will no longer be on sale once the elections are over and life starts to resume...

Wink

Wow..., we agree on this one..., and strongly I may add!!!

If I am not mistaken...., there where like three times I remember in the last 25 years that Plat was below Gold..., and each of these times whomever bought Plat made a profit in this specific position...

I agree..., Platinum is on SALE..., good point Wink

Nice to be on the same side of the fence together for a change! I knew I liked you!

Wink

 

[WinkHPD]

Date: 11/4/2008 5:02:44 PM
Author: strmrdr
and its going to stay that way.
The biggest market was in automotive and that is gone for good.
The plants have been converted and wont be converted back.

I both believe and hope that you are wrong. My world is not so filled with gloom and doom. I think things will begin to get better immediately regardless of who wins the election today.

Wink

 

[strmrdr]

Date: 11/4/2008 5:56:37 PM
Author: Wink

Date: 11/4/2008 5:02:44 PM

Author: strmrdr

and its going to stay that way.

The biggest market was in automotive and that is gone for good.

The plants have been converted and wont be converted back.

I both believe and hope that you are wrong. My world is not so filled with gloom and doom. I think things will begin to get better immediately regardless of who wins the election today.


Wink

what???
low plat prices is a good thing!!!!!!!
It doesn't matter when things get better(they will) they are not going to be using much plat in cars anymore.
The car market will come back but they will not be using plat
The alternatives are cheaper and better and the plants are converted.

 

[kittybean]

I received some quotes for my potential wedding ring about a month ago, and I asked for a re-quote about a week ago, and there was no change in price. I have some time, and the SA I worked with told me to come back in about a month for another re-quote as the designer hadn''t dropped any prices yet. I was very surprised!

Do you experts think that a designer-manufacturer will likely drop prices in the next month or so, or would it be wise to wait until after Christmas? I understand that this is quite speculative, but I just wanted another opinion/forecast to consider.

 

[WinkHPD]

Date: 11/4/2008 7:58:54 PM
Author: strmrdr

Date: 11/4/2008 5:56:37 PM
Author: Wink

Date: 11/4/2008 5:02:44 PM

Author: strmrdr

and its going to stay that way.

The biggest market was in automotive and that is gone for good.

The plants have been converted and wont be converted back.

I both believe and hope that you are wrong. My world is not so filled with gloom and doom. I think things will begin to get better immediately regardless of who wins the election today.


Wink

what???
low plat prices is a good thing!!!!!!!
It doesn''t matter when things get better(they will) they are not going to be using much plat in cars anymore.
The car market will come back but they will not be using plat
The alternatives are cheaper and better and the plants are converted.

Ah, I misunderstood what you were saying.

You may be and probably are correct about the auto market, I profess to know nothing about making cars.

I do believe however, that cars or no cars, the low margin between gold and platinum will not last.

The nice thing is that in a year we will both know instead of having to guess.

Wink

 

[Indira-London]

That''s great information Wink and very useful for those whose currency is US dollars.

I just wanted to inject a note of caution for those who are not in the USA and paying in Sterling or Euros - the price changes for both metals are diminished by recent rise of the dollar US against both Sterling and Euros or you could say that Sterling and Euros have dropped siginificantly against the US dollar e.g. Sterling used to be ca. 2 dollars to £1 up for much of this year whereas over the past few weeks (since the worsening of the financial markets turmoil) it has fluctuated from 1.5-1.6ish dollars to £1 so any drop in metal trade price is offset somewhat by increase in price due to weaker Sterling or Euro.

 

[denverappraiser]

Customers ask me nearly every day if I think the price of gold and/or platinum and/or silver is going to go up tomorrow. I’ve been getting the same questions for over 30 years. My answer is always the same. If I could predict that with even a 51% reliability I would be a very wealthy man.

It hasn’t always been cars that drove the price of platinum. Actually, that’s a relatively recent thing with the popularity of catalytic converters (introduced in 1975). That said, I more or less agree with Storm. Cars have been the #1 consumption, this ended this year and it’s sure to have an affect on demand. There are also significant production related issues. 70% of the worldwide platinum production comes from a single location in South Africa and the extraction process is extremely energy intensive for example. This makes it very subject to ups and downs based on local problems either to that mine or to that country as well as to the cost of energy. They’re trying hard to diversify but, so far, it doesn't seem to be going all that well.

http://www.miningmx.com/platinum/846526.htm

In the end, buy platinum if you like it. Don’t speculate. Predicting the future is a job for psychics and, last I checked, NONE of them were any good at it.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[strmrdr]

Date: 11/5/2008 7:53:41 AM
Author: denverappraiser


In the end, buy platinum if you like it. Don’t speculate. Predicting the future is a job for psychics and, last I checked, NONE of them were any good at it.


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

Professional Appraisals in Denver

well said.
Where your paying well over spot for plat jewelery speculation is a very bad idea in this segment of the market.

 

[strmrdr]

Date: 11/4/2008 10:46:14 PM
Author: kittybean
I received some quotes for my potential wedding ring about a month ago, and I asked for a re-quote about a week ago, and there was no change in price. I have some time, and the SA I worked with told me to come back in about a month for another re-quote as the designer hadn''t dropped any prices yet. I was very surprised!


Do you experts think that a designer-manufacturer will likely drop prices in the next month or so, or would it be wise to wait until after Christmas? I understand that this is quite speculative, but I just wanted another opinion/forecast to consider.

vote with your dollars they were all real quick to raise prices when the price was up.
There are a lot of places that will charge based on the proper price.
When sales fall off they will wake up.

 

[ysj99]

I can testify to this! I saw a 2mm platinum band for $417 about 3 months ago. About 6 weeks ago I ordered it because I saw that the price of that same ring had dropped to $308! Now, I see it has dropped EVEN MORE to $261!

I kick myself for not being able to predict the future, haha, but at least I take solace in the fact that I didn''t buy at platinum''s highest. Maybe it''s time to get FI''s band

 

[WinkHPD]

Date: 11/5/2008 8:59:55 AM
Author: strmrdr

Date: 11/5/2008 7:53:41 AM
Author: denverappraiser


In the end, buy platinum if you like it. Don’t speculate. Predicting the future is a job for psychics and, last I checked, NONE of them were any good at it.


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

Professional Appraisals in Denver

well said.
Where your paying well over spot for plat jewelery speculation is a very bad idea in this segment of the market.

My initial post and subsequent posts were not intended as investment advice, I know nothing of investing. I just feel that Platinum is on sale right now and if you like platinum jewelry this is a good time to be getting it, certainly MUCH better than in last February.

Wink

 

[Sizzle]

Date: 11/5/2008 3:35:04 PM
Author: ysj99
I can testify to this! I saw a 2mm platinum band for $417 about 3 months ago. About 6 weeks ago I ordered it because I saw that the price of that same ring had dropped to $308! Now, I see it has dropped EVEN MORE to $261!

I kick myself for not being able to predict the future, haha, but at least I take solace in the fact that I didn''t buy at platinum''s highest. Maybe it''s time to get FI''s band

Ok, do tell. Where are you looking? I want a tennis bracelt reset and I never considered platinum before, with the prices so close, I just might.. (dependant on my bonus!).

 

[oldmancoyote]

Mind you - we shouldn''t expect a massive reduction in the average price of a ring. I just weighed 5 fairly hefty platinum rings of different sizes and shapes (and some have some gold setting or decoration, and all contain stones, but bear with me for a second), and the average weight was 9.3 grams, which coincidentally is almost exactly 0.3 oz.

Let''s assume this is all pure platinum, a $1000 differential per oz means $300 less. The rest of the ring''s cost is labour, energy, refining costs, overheads, etc. etc. plus of course the stones.

In practice, about 80% of that weight is real platinum (take away the stones, the gold and the non-platinum alloy components) and the difference is more like $250. Also, since many rings or settings are available for less than $300, they either didn''t double in price to start with, or they weigh considerably less than my 9.3 g average.

 

[luvmyhalo]

Date: 11/5/2008 4:15:46 PM
Author: Sizzle

Date: 11/5/2008 3:35:04 PM
Author: ysj99
I can testify to this! I saw a 2mm platinum band for $417 about 3 months ago. About 6 weeks ago I ordered it because I saw that the price of that same ring had dropped to $308! Now, I see it has dropped EVEN MORE to $261!

I kick myself for not being able to predict the future, haha, but at least I take solace in the fact that I didn't buy at platinum's highest. Maybe it's time to get FI's band

Ok, do tell. Where are you looking? I want a tennis bracelt reset and I never considered platinum before, with the prices so close, I just might.. (dependant on my bonus!).

Check out eweddingbands.com These lower prices are FAB!!!!!

http://www.eweddingbands.com/store/platinumlight.html

 

[ysj99]

Date: 11/5/2008 6:12:15 PM
Author: luvmyhalo

Date: 11/5/2008 4:15:46 PM

Author: Sizzle

Date: 11/5/2008 3:35:04 PM

Author: ysj99

I can testify to this! I saw a 2mm platinum band for $417 about 3 months ago. About 6 weeks ago I ordered it because I saw that the price of that same ring had dropped to $308! Now, I see it has dropped EVEN MORE to $261!


I kick myself for not being able to predict the future, haha, but at least I take solace in the fact that I didn''t buy at platinum''s highest. Maybe it''s time to get FI''s band

Ok, do tell. Where are you looking? I want a tennis bracelt reset and I never considered platinum before, with the prices so close, I just might.. (dependant on my bonus!).

Check out eweddingbands.com These lower prices are FAB!!!!!

http://www.eweddingbands.com/store/platinumlight.html

yes luvmyhalo, that''s exactly where i got my bands!