Thinking about Platinum for recession proofing - anyone else?

Carol Carter

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Thinking about Platinum for recession proofing - anyone else?

carol_carter💰Established (100-250k)

1 day ago

Key Takeaways

•Been doing a lot of reading lately about the market and the general economic outlook, and honestly, it's making me a bit antsy.
•That gold part has honestly been a huge comfort during the recent ups and downs.
•I've been specifically looking into adding platinum to my precious metals allocation.

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Been doing a lot of reading lately about the market and the general economic outlook, and honestly, it's making me a bit antsy. I've got a pretty diversified retirement approach going already – typical mix of stocks, bonds, a decent chunk in real estate, and for about five years now, a solid Gold IRA. That gold part has honestly been a huge comfort during the recent ups and downs. My portfolio is sitting in the low-mid 200s range, and as an insurance agent here in Omaha, I see enough of the "what-ifs" to feel like I should be doing even more to brace for a potential downturn.

I've been specifically looking into adding platinum to my precious metals allocation. Gold has been great, but platinum seems to have some different dynamics, especially with its industrial demand. Part of me is thinking about moving some gains from a particularly strong performing stock fund within my IRA over to a Platinum IRA. Does anyone here have experience with platinum as a recession hedge? I'm talking specifically within an IRA, not just physical holdings. I know the volatility can be higher than gold, but if we're talking about a significant recession, could it offer some unique protection or even growth potential as manufacturing eventually recovers?

My Gold IRA is with Augusta Precious Metals, and they offer platinum too, so the logistics wouldn't be too complicated from that end. I'm just trying to gauge if it's considered a wise move for someone with my portfolio size and goals, or if it's just overthinking it and I should stick to more gold. What are your thoughts folks? Any pitfalls I should be aware of beyond the typical market risks?

4 comments

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Best Answer▲ 10 upvotes

sandra_green📊Growing (50-100k)

Totally get where you're coming from. I actually had a similar thought process a few years back when I was looking at diversifying my precious metals even further. Ended up adding some platinum to my IRA after a lot of research, and while it's not made me a millionaire overnight, it's definitely given me some peace of mind knowing it's there as an extra hedge. It's a different beast than gold, for sure, but I liked its industrial applications as an additional layer of demand.

Comments (4)

sandra_green📊Growing (50-100k)✓ Verified•about 24 hours ago

joseph_harris📊Growing (50-100k)•about 24 hours ago

Interesting thought! So you're thinking about platinum specifically for its industrial demand during a downturn, or is there another angle you're seeing for recession-proofing with it? Curious to hear your read there.

janet_cook📊Growing (50-100k)•about 24 hours ago

Honestly, while platinum *does* have its industrial uses and can be a good diversifier, calling it "recession-proof" might be a stretch. It's historically more volatile than gold, and its price is often tied pretty closely to industrial demand, which plummets during recessions. Gold tends to shine when things get really squirrely, acting as that safe haven, whereas platinum can get hit harder. Just something to consider before going all-in!

elizabeth_johnson💰Established (100-250k)Real Investor✓ Verified•about 24 hours ago

Hey, interesting thought! Platinum can definitely be an interesting play for diversification, especially given its industrial demand. One thing I'd recommend looking into is the historical price correlation between platinum and gold during past recessions. Sometimes they move together, sometimes they diverge.

There's a pretty good analysis on Kitco that breaks down precious metal performance during various economic downturns – might be worth a read before you dive in. Just search for "Kitco platinum recession analysis." Good luck with your research!

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