Is platinum the next big thing, or Fool's Gold? Thinking about adding it to my IRA.

Donald Nelson

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Is platinum the next big thing, or Fool's Gold? Thinking about adding it to my IRA.

donald_nelson💎Premium (500k-1m)

less than a minute ago

Key Takeaways

•Been seeing a lot of chatter lately about platinum and its potential as an investment, especially with the EV push and industrial demand.
•We're talking probably $750k in total portfolio value, and a good 15-20% of that is physical gold in my IRA.
•Gold has treated me well over the years – especially through all the market ups and downs.

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Been seeing a lot of chatter lately about platinum and its potential as an investment, especially with the EV push and industrial demand. For context, I'm a retired auto industry guy, spent 30 years on the line in Detroit, and I've had a significant chunk of my retirement in gold for over two decades now. We're talking probably $750k in total portfolio value, and a good 15-20% of that is physical gold in my IRA. Gold has treated me well over the years – especially through all the market ups and downs. It was a comfort to know I had that bedrock when things got shaky.

My concern now is diversification, or maybe just finding the next thing to hedge against inflation and economic uncertainty. Gold has been a fantastic store of value, and I'm not planning on selling any of it. But I'm hearing arguments that platinum is ridiculously undervalued right now, trading below gold, which historically hasn't been the norm. The industrial applications, particularly for hydrogen fuel cells and some catalytic converters (even with EV adoption, there’s still ICE for a while), seem strong. Is this a genuine opportunity, or just a speculative bubble forming?

Thinking about allocating maybe 5-10% of my current cash holdings (which are relatively low, maybe $50k) into platinum for my Gold IRA. Not looking to get rich quick, just want to maintain purchasing power and potentially capture some upside if it truly is undervalued. For those who've diversified into platinum or even palladium, what's been your experience? Are you seeing it as a long-term play like gold, or more of a short-to-medium term speculative bet? Any red flags I should be considering that aren't immediately obvious?

4 comments

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Best Answer▲ 9 upvotes

michelle_collins🏆Advanced (250-500k)

Interesting, you being an auto industry vet definitely gives your perspective some weight on the EV side of things!

You mentioned industrial demand – are you thinking more about platinum's use in catalytic converters still, or are there other industrial applications you're seeing that make it particularly attractive right now?

Comments (4)

richard_garcia👑Elite (1m-5m)Real Investor•less than a minute ago

Hey, interesting post! Funny enough, I had a very similar thought process a few years back. Not an auto guy, but I've also had a good portion of my retirement in gold for ages. The platinum buzz caught my eye, too, especially with the industrial applications. I ended up dipping my toes in, not heavily, but a small percentage. It's been... interesting. Not the rocket ship some predicted, but definitely not "fool's gold" in my experience either. Curious to see what others think.

michelle_collins🏆Advanced (250-500k)Real Investor•less than a minute ago

Interesting, you being an auto industry vet definitely gives your perspective some weight on the EV side of things!

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

Hey, I hear you on the platinum hype, especially with your background. It's definitely an interesting metal with a lot of industrial uses. But "next big thing" is a strong claim. While EV demand is there, let's not forget platinum's pretty volatile historically compared to gold. The supply chain can be a bit more… concentrated, which might add risks of its own. Just something to consider before going all-in. Diversification is king, after all, even within precious metals.

richard_garcia👑Elite (1m-5m)Real Investor•less than a minute ago

Hey, that's a really interesting question, especially with your background! Platinum definitely has a unique industrial demand story, unlike gold. One thing to keep in mind, beyond its industrial uses, is its role as a "luxury" metal. Sometimes the jewelry market can influence its price, which adds another layer of complexity compared to gold's more straightforward safe-haven appeal.

You might find this piece on the differences between investing in platinum versus gold for your IRA helpful: https://www.forbes.com/advisor/investing/platinum-vs-gold-ira/ It breaks down some of the pros and cons pretty well, which could help you weigh your options!

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