Platinum for my IRA? Feeling like it's a good time to diversify from just gold...

Paul Hill

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Platinum for my IRA? Feeling like it's a good time to diversify from just gold...

paul_hill🏆Advanced (250-500k)

about 1 hour ago

Key Takeaways

•But lately, I've been looking at platinum and wondering if I'm missing a trick.
•My advisor has always been pretty bullish on gold, naturally, given his niche.
•However, even he's been hinting more and more about platinum lately, especially with the current price compared to gold.

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I've been a pretty big advocate for gold in IRAs for years now, especially since working with my financial advisor here in SLC who specializes in them. My gold portfolio's sitting pretty solid, probably in the low 300s by now, and it’s done exactly what I hoped it would regarding stability and hedging against market craziness. But lately, I've been looking at platinum and wondering if I'm missing a trick.

My advisor has always been pretty bullish on gold, naturally, given his niche. However, even he's been hinting more and more about platinum lately, especially with the current price compared to gold. It just feels… undervalued, you know? Like for automotive demand picking back up, and for it generally being a rarer metal than gold, the historical price relationship seems way out of whack right now. I keep thinking about how much of a steal it could be if it swings back even halfway to its old highs relative to gold.

I was specifically looking at some 1 oz platinum rounds – probably from the Royal Mint or Perth Mint, just because I like the recognizable brands for liquidity. I wouldn’t go crazy, maybe put 10-15% of my next IRA contribution into platinum instead of more gold. Enough to get some exposure without risking the core stability I appreciate from gold. Is anyone else here feeling this way about platinum? Or am I just getting FOMO from seeing the gold price a bit stagnant?

5 comments

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Best Answer▲ 10 upvotes

diane_bailey💰Established (100-250k)

Interesting thought. When you say your gold portfolio is "low 300s by now," are you referring to its value in thousands, or a percentage of your total retirement savings? Just curious how that's playing into your diversification strategy.

Comments (5)

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

linda_taylor📊Growing (50-100k)✓ Verified•less than a minute ago

Totally get where you're coming from. My gold IRA has been a rock, but I actually just added some silver. Not quite platinum, but I had the same feeling about diversifying a bit. It’s comforting to spread it out, even if it’s still all precious metals.

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

Hey, I hear you on diversifying, and platinum definitely has its appeal as a precious metal. But before jumping in, have you looked into palladium at all? It often gets overlooked in these discussions, but its industrial demand drivers can make it an interesting alternative to consider alongside platinum, maybe even offering a bit more upside in certain market conditions. Just food for thought!

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

Totally get wanting to diversify! Platinum can be an interesting choice for sure, especially if you're looking beyond just gold. Since you're already savvy with precious metals in an IRA, have you looked into palladium at all? It's another IRS-approved option and often flies under the radar compared to gold and platinum, but it has some unique industrial demand drivers that could be worth exploring for further diversification. Just a thought!

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

Totally agree with this! Gold has been great for stabilizing my retirement, but I've been eyeing platinum too. My advisor, out of Denver, also brought it up last year as a smart diversification move. I'm sitting on a little less than you, probably high 200s in gold, but planning to dip into platinum soon. Seems like a wise play given current markets.

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