Platinum vs. Gold - Is it time to diversify my precious metals?

Donald Nelson

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Platinum vs. Gold - Is it time to diversify my precious metals?

donald_nelson💎Premium (500k-1m)

about 1 month ago

Key Takeaways

•Been noticing a lot of chatter lately about platinum, and it’s got me wondering if I should be expanding beyond just gold.
•I've been a gold guy for over 20 years, pretty much since I started planning for retirement from the auto industry back in Detroit.
•Most of my precious metals holdings, probably around 800k of my million-dollar portfolio, is in physical gold and a Gold IRA.

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Been noticing a lot of chatter lately about platinum, and it’s got me wondering if I should be expanding beyond just gold. I've been a gold guy for over 20 years, pretty much since I started planning for retirement from the auto industry back in Detroit. Most of my precious metals holdings, probably around 800k of my million-dollar portfolio, is in physical gold and a Gold IRA. It's done right by me through thick and thin, but you always gotta be looking forward, right?

My concern is diversification. I love gold, I really do, and it's been the bedrock of my retirement, especially with how global markets have been swinging. But lately, platinum seems to be lagging behind gold and even silver. It feels like an industrial metal that also has monetary properties, and with EVs on the rise, its future in catalytic converters might be limited. That said, aren't there other industrial uses that could pick up the slack, or even new technologies?

Has anyone here moved a portion of their gold holdings into platinum recently? Or are you sticking with gold and silver? I’m thinking long-term here, for my grandkids even, so I'm not looking for a quick buck. Just trying to make sure I’m not missing out on a potentially undervalued asset that could complement my existing gold investments. Also, totally unrelated, but something that just popped into my head regarding planning for the future: If you're nearing retirement or already there, I found this RMD Calculator to be super helpful for figuring out those required minimum distributions without a headache. It's a lifesaver when you're trying to keep everything straight.

Would love to hear some perspectives, especially from those who have a longer history with precious metals beyond just the last few years of boom. What's your gut feeling on platinum's potential, or lack thereof, in the coming decade?

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5 comments

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Best Answer▲ 18 upvotes

maria_campbell📊Growing (50-100k)

I was pretty skeptical about another gold IRA forum but the tools here on GIRAB actually surprised me — the calculator alone saved me hours of spreadsheet work.

Comments (5)

jennifer_martinez💰Established (100-250k)Real Investor✓ Verified•about 1 month ago

Totally get where you're coming from! I had a similar thought a few years back. My portfolio was almost exclusively silver, and I started seeing talk about palladium. Decided to dip my toe in a bit, and honestly, it's been interesting to watch the different movements. Not sure I'll ever go 50/50, but it does add a little spice!

steven_mitchell🏆Advanced (250-500k)Real Investor✓ Verified•about 1 month ago

Interesting post. The auto industry connection makes me wonder, given the industrial demand for platinum, do you think that's a big part of the "chatter" you're hearing? Like, are people specifically talking about platinum's role in catalysts and how that might affect its value?

steven_mitchell🏆Advanced (250-500k)Real Investor✓ Verified•about 1 month ago

Interesting thought process, given your background! While diversification is generally smart, I'd say tread carefully with platinum if your primary goal is long-term, stable wealth preservation. Gold has historically been the king of "safe haven" assets for a reason, especially when you consider its track record against economic downturns and historical inflation. Platinum's industrial demand often makes it a bit more volatile, which might not be ideal if you're looking for that bedrock stability for retirement.

Maybe consider *why* you're looking at platinum – is it for potential growth, or just another "safe" metal? The two aren't always the same, especially when you look at the supply/demand dynamics for each.

maria_campbell📊Growing (50-100k)✓ Verified•6 days ago

I was pretty skeptical about another gold IRA forum but the tools here on GIRAB actually surprised me — the calculator alone saved me hours of spreadsheet work.