Platinum - worth considering or just a distraction from gold?

Donald Nelson

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Platinum - worth considering or just a distraction from gold?

donald_nelson💎Premium (500k-1m)

about 6 hours ago

Key Takeaways

•Been seeing a lot of chatter lately about platinum and whether it's undervalued.
•My portfolio's sitting comfortably between $500k and $1M, mostly in physical gold and a Gold IRA.
•I’ve ridden out plenty of market ups and downs, and gold has always been my bedrock.

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Been seeing a lot of chatter lately about platinum and whether it's undervalued. As someone who's been all-in on gold for over two decades now, pretty much since I started planning for retirement from the auto plant here in Detroit, it's caught my eye. My portfolio's sitting comfortably between $500k and $1M, mostly in physical gold and a Gold IRA. I’ve ridden out plenty of market ups and downs, and gold has always been my bedrock.

My strategy has always been pretty simple: don't chase the shiny new thing. Gold has proven its value as a hedge against inflation and market volatility time and time again. I've seen friends get burned trying to time the market with other commodities. But with platinum hovering around $900 an ounce, and gold so much higher, it does make you wonder if there's a real opportunity there, especially with potential industrial demand picking back up.

My big question is, for us long-term holders, does it make sense to diversify a small portion into platinum? Or is it just another way to introduce more risk into a solid, proven strategy? I’m thinking about my eventual RMDs, and how I'll be drawing down on this portfolio. Speaking of which, for anyone else nearing that stage, I found this RMD Calculator to be incredibly helpful for planning. It really helps you visualize your future distributions, which is crucial when you're looking at different asset classes.

What are your thoughts? Anyone here diversified into platinum with a similar long-term gold-heavy portfolio? Did it pay off, or did you wish you just stuck to your guns? Curious to hear some real-world experiences, not just speculative articles.

4 comments

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Best Answer▲ 7 upvotes

steven_mitchell🏆Advanced (250-500k)

Hey there! That's a great question, especially with your long history with gold. While gold and platinum definitely have their own unique characteristics, it's worth noting that platinum often gets overlooked as a precious metal for IRAs. Many providers focus heavily on gold and silver.

If you're serious about exploring platinum, make sure the IRA custodian you're looking at explicitly offers it. Some don't, which can be a real pain if you've already got your heart set on it. It's a less common choice, so just be prepared for potentially fewer options. Good luck with your research!

Comments (4)

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

Dude, I hear you! I had a similar thought a few months back. I've been stacking silver for like 15 years, and then all these articles about platinum started popping up. I even looked into it for a bit, but honestly, it felt like too much of a diversion from my main strategy. Sticking to what I know best for now. Plus, silver's been doing pretty well for me.

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

That's an interesting question, especially coming from someone with your experience in gold! You mentioned being "all-in on gold for over two decades now" – I'm curious, have you ever diversified into any other precious metals during that time, or has it been exclusively gold?

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

Interesting thought, OP. While platinum definitely has its industrial uses, which some see as a stronger demand driver than gold's safe-haven status, it also makes it more susceptible to economic downturns. We saw that pretty clearly during the 2008 crisis and again with COVID. Might be worth considering its volatility compared to gold's more consistent, albeit sometimes slower, upward trend. Just something to chew on!