Is anyone else looking at platinum right now? Thinking it's a steal.
- •Okay, so I'm relatively new to the precious metals game, just converted a chunk of my old 401k into a gold IRA last year.
- •Always been in the music industry here in Nashville, so stocks and bonds felt a bit...
- •Gold made sense, felt real.
Okay, so I'm relatively new to the precious metals game, just converted a chunk of my old 401k into a gold IRA last year. Always been in the music industry here in Nashville, so stocks and bonds felt a bit... abstract. Gold made sense, felt real. I've got a little over $60k in physical gold in that IRA now, and I'm feeling pretty good about it given everything going on. But now I'm starting to eye platinum, and I'm curious if anyone else is having the same thoughts.
I was chatting with my advisor a few weeks back – he’s the one who helped me set up my gold IRA with Augusta Precious Metals – and he briefly mentioned platinum. Looked at some charts myself, and man, the discount compared to gold is pretty wild. Historically, it's often traded above gold, and now it's way down. Feels like a no-brainer to pick some up, almost like buying a vintage guitar for a fraction of its future value.
Given the industrial demand, especially with the push for greener tech and catalytic converters, it just seems like it HAS to go up. My current plan is to maybe allocate another $10k-$15k into platinum, probably through an existing dealer or perhaps even a direct purchase if the fees are better. Am I missing something huge here? Is there a big downside I'm not seeing? Mostly interested in keeping it physical, like my gold, for that hedge against inflation and market craziness.
Anyone here already invested in platinum? What's your take? Should I pull the trigger now or wait to see if it dips even further? Just trying to get a feel for the room before I make my next move.