Platinum - The Forgotten Metal? Anyone else weighing it now?

Richard Garcia

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Platinum - The Forgotten Metal? Anyone else weighing it now?

richard_garcia👑Elite (1m-5m)

about 3 hours ago

Key Takeaways

•So, I've been doing a lot of thinking lately, staring at my portfolio and feeling that familiar itch of wanting to diversify even further.
•Most of my capital is tied up in gold, which has served me incredibly well over the years – especially since I retired from ExxonMobil back in 2018.
•My Gold IRA alone is pushing north of $1.5 million now, which is a comfortable spot to be in, but I'm always looking ahead.

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So, I've been doing a lot of thinking lately, staring at my portfolio and feeling that familiar itch of wanting to diversify even further. Most of my capital is tied up in gold, which has served me incredibly well over the years – especially since I retired from ExxonMobil back in 2018. My Gold IRA alone is pushing north of $1.5 million now, which is a comfortable spot to be in, but I'm always looking ahead.

Lately, platinum has caught my eye. It feels like the forgotten relative in the precious metals family. Gold gets all the headlines, silver has its moments, but platinum just… exists, often trading below what I feel is its intrinsic value, especially when you consider its industrial applications. I know it's had its struggles with the shift away from diesel, but are we seeing a potential bottom here? The demand side, particularly for hydrogen fuel cells and other green technologies, seems poised for a comeback. I’m wondering if anyone else here is looking at platinum with a long-term hold strategy, perhaps even for a portion of their precious metals IRA.

I've been running some hypotheticals through various tools, including that Gold IRA Calculator I stumbled upon – it's pretty neat for figuring out what even a small allocation of platinum or silver could do to the overall IRA value if prices move a certain way. It's really helped me visualize some of these potential gains or losses. What are your thoughts folks? Is platinum undervalued right now, or am I just getting too speculative in my old age? I’m based in Houston, and even here, with all the energy talk, platinum barely gets a mention. Am I missing something crucial?

5 comments

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Best Answer▲ 10 upvotes

carol_carter💰Established (100-250k)

Totally get this. I've been eyeing platinum too. Like you, gold has been a fantastic workhorse for my retirement (ex-IBM, so similar boat here!), but diversification is always on my mind. I actually picked up a small amount of platinum last year just to dip my toes in, and it's been interesting to watch. Definitely feels like the "forgotten" one, but that's almost what makes it intriguing, right?

Comments (5)

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

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

Hey, interesting thought on platinum. Congrats on the retirement from ExxonMobil too, that's awesome. I'm curious, when you say "weighing it now," are you talking about adding physical platinum to your IRA, or looking at something like platinum ETFs or mining stocks?

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

Honestly, I'm not sure I'd call platinum "forgotten." It's definitely a more niche play compared to gold, and for good reason. Gold's track record as a safe haven is pretty unmatched, especially when you factor in geopolitical instability or market downturns. Platinum, on the other hand, is much more tied to industrial demand, specifically automotive. So while I get the urge to diversify, I'd probably lean more into silver if I wanted another precious metal in the IRA, given its broader industrial and investment appeal beyond just one sector.

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

Hey there! Great question about platinum. It's definitely an interesting one to consider for diversification, especially when you're already solid on gold.

One thing I'd definitely recommend looking into is the industrial demand for platinum, as that can play a big role in its price movements, sometimes even more so than investor sentiment alone. It's not just jewelry and catalysts anymore, with new tech uses emerging. Also, for anyone else reading this and curious about the different precious metals for an IRA, this IRS page is a good starting point to see what's actually eligible.

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

Totally agree with you on platinum. It feels like everyone's so focused on gold (and silver to a lesser extent) that platinum often gets overlooked. I've been eyeing it too, especially with the industrial demand picking up. Was thinking of adding a small percentage to my IRA next year myself. It's a great hedge, in my opinion.

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