Is platinum the next big thing or just a flash in the pan?

Patricia Miller

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Is platinum the next big thing or just a flash in the pan?

patricia_miller📊Growing (50-100k)

about 10 hours ago

Key Takeaways

•I’ve been doing a ton of research lately, and frankly, I'm feeling a bit out of my depth.
•But now, with inflation still being a total nightmare, I'm looking at other options, specifically platinum.
•It seems like platinum is just… sitting there.

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I’ve been doing a ton of research lately, and frankly, I'm feeling a bit out of my depth. I finally took the plunge and moved about 75k of my retirement savings into a Gold IRA earlier this year – felt like a proper adult move, especially running my own business out here in Denver. But now, with inflation still being a total nightmare, I'm looking at other options, specifically platinum.

It seems like platinum is just… sitting there. Like, historically low compared to gold, and even palladium. I keep seeing articles suggesting it's massively undervalued, especially with the push for green tech and fuel cells. Makes me wonder if I should be thinking about diversifying into it with any future contributions instead of just sticking to gold. My initial thought was to play it safe with gold, but "safe" feels different these days.

Anyone here already have platinum in their IRA or considering it? What are your thoughts on its potential for growth in the next 5-10 years? I'm not looking to dump my whole portfolio into it, but if it's truly as undervalued as some sources suggest, I'd be kicking myself for not getting in now. Is the "green tech" narrative for platinum actually going to move the needle, or is it just hype? Really curious to hear some more experienced investors' perspectives.

4 comments

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Best Answer▲ 9 upvotes

ruth_perez📊Growing (50-100k)

Dude, I hear you on feeling out of your depth. I went through a similar thing with palladium a few years back. Everyone was hyping it up, saying it was the next big thing, and I almost pulled the trigger on a decent chunk of my IRA for it. Glad I held off, honestly. Platinum definitely has some potential, but I'm wary of chasing the hype after that experience. Sticking to gold and silver for now.

Comments (4)

ruth_perez📊Growing (50-100k)•less than a minute ago

dorothy_lopez💰Established (100-250k)Real Investor•less than a minute ago

Hey, interesting question! You mentioned moving $75k into a Gold IRA earlier this year. Was that solely gold, or did you consider other precious metals at that time as well? Just curious about your initial thought process there.

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

While platinum definitely has some interesting industrial applications and a certain allure, I'd be cautious about calling it the "next big thing" for a Gold IRA. Gold has thousands of years of history as a store of value, and its role as a safe haven is deeply ingrained. Platinum's price can be a lot more volatile due to its industrial demand, which might not be what you're looking for in a retirement account. Just something to consider!

sharon_evans💰Established (100-250k)Real Investor•less than a minute ago

Great question! Platinum's definitely got some interesting industrial applications and scarcity going for it, which could mean good things for its long-term value. However, being less widely held than gold or silver, it can also see bigger price swings.

For anyone looking to dive into platinum, palladium, or even rhodium, make sure your IRA custodian offers all these options and that you understand the storage fees involved. A good resource for comparing different IRA providers that offer a wider range of precious metals beyond just gold and silver is Investopedia's list of best gold IRA companies – they often detail which companies have broader offerings. Good luck!

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