Platinum's Potential - Thoughts from a fellow Goldbug?
- •Been seeing a lot of chatter lately about platinum and wondering what the general consensus here is.
- •My IRA is heavy, and I mean heavy , in physical gold, just shy of a million dollars worth sitting securely.
- •But platinum… it’s been intriguing me.
Been seeing a lot of chatter lately about platinum and wondering what the general consensus here is. As someone who's been all in on gold for decades – literally since the 80s, when I was still waist-deep in refinery blueprints down in Houston – I’m always keeping an eye on the other precious metals. My IRA is heavy, and I mean heavy, in physical gold, just shy of a million dollars worth sitting securely. But platinum… it’s been intriguing me.
My gut tells me platinum could be seriously undervalued right now. Considering its industrial demand, particularly in things like catalytic converters which aren't going away anytime soon, even with EVs, has me thinking it’s got legs. I remember the big run-up in the mid-2000s; that felt like a proper boom. Now, with the prices hovering where they are, it almost feels like a generational buy. What are others thinking? Am I just getting swept up in some recency bias, or is there a genuine opportunity here?
I’m not looking to move a huge chunk of my gold, mind you. My retirement is pretty well set from my years in the energy sector, and that gold has been my bedrock. But maybe a modest allocation, say 5-10% of my overall precious metals holdings from new contributions, into platinum could be a smart diversification play. I've even been messing around with that Tax Calculator when looking at potential future gains to understand the tax implications of adding another asset class. Helps to know exactly what I'm looking at down the line, especially with current inflation worries.
Anyone here already hold a decent amount of platinum in their IRA or personal holdings? What’s been your experience? Any warnings or positive insights from the real world, rather than just market analysts? I’m 68 now and less inclined to take huge risks, but a calculated move on something truly undervalued is always on the table.