Thinking about adding Platinum to my IRA with inflation getting spicy

Steven Mitchell

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Thinking about adding Platinum to my IRA with inflation getting spicy

steven_mitchell🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•Been tracking this thread for a bit, figured I'd throw my two cents in.
•With all the talk about inflation and the dollar looking weaker by the day, it's got me seriously considering upping my hard asset game.
•My gold IRA has been a solid performer, probably about 15% of my overall portfolio right now, sitting around $350k total.

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Been tracking this thread for a bit, figured I'd throw my two cents in. With all the talk about inflation and the dollar looking weaker by the day, it's got me seriously considering upping my hard asset game. My gold IRA has been a solid performer, probably about 15% of my overall portfolio right now, sitting around $350k total. I started building it up a few years ago when I really started feeling the squeeze of rising costs, especially in manufacturing here in Cleveland.

I’m a manufacturing exec, so I see all the supply chain headaches and raw material price hikes firsthand. It’s not just a TV news story for me; it's what I deal with every single day. That's why I'm such a believer in tangibles. Gold has been the bedrock, but I'm looking at platinum more and more. Anyone else in a similar boat, thinking about diversifying beyond just gold into platinum for their hard asset IRA? The industrial demand for platinum seems like a big plus, a bit different from gold’s traditional haven status.

I know gold is the go-to for inflation hedging, and it's done well for me. But I'm wondering if adding platinum could give an extra layer of protection, especially if we see some serious economic shifts. Are people here looking at similar moves? What are your thoughts on platinum's correlation to gold during inflationary periods? Is it a good complement or just more of the same?

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6 comments

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Best Answer▲ 17 upvotes

michael_anderson🏆Advanced (250-500k)

Honestly, platinum's interesting, but I've kept my gold IRA focused primarily on gold and silver for my retirement savings. With inflation eating away at everything, knowing I have that tangible asset provides a lot more peace of mind than some of the more niche precious metals. I used the Gold IRA Quiz here on GIRAB, and it really helped me solidify that strategy for my 401k rollover, especially understanding the long-term tax advantages.

Comments (6)

james_wilson👑Elite (1m-5m)Real Investor✓ Verified•about 2 months ago

Totally feel this. I've been eyeing platinum myself for similar reasons. My gold IRA has been clutch, but that inflation data lately has me thinking diversifying beyond just gold and silver might be a smart move. Platinum's industrial demand makes it interesting, feels like it has some robust legs to stand on besides just being a precious metal.

margaret_chen🏆Advanced (250-500k)Real Investor•about 2 months ago

Interesting thought. You mention your gold IRA is about 15% of your portfolio right now. Are you thinking of adding platinum to that 15%, or would you carve out a separate percentage for it?

paul_hill🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Hey, I get the inflation fears, it's real. But platinum for an IRA? Personally, I'm a bit more cautious on that front. While it has industrial demand, it's also a smaller, more volatile market than gold or even silver.

You mentioned your gold IRA is 15% of your portfolio, and that's a good chunk. Maybe consider beefing up that gold position further or looking at other diversified assets that aren't so directly tied to industrial cycles, if your main concern is inflation hedging. Just a thought!

sharon_evans💰Established (100-250k)Real Investor•about 2 months ago

I've been looking hard at diversifying my Gold IRA this year, especially with how inflation's been kicking us here in Tulsa. Is platinum really a good bet right now, or is it too volatile compared to gold and silver? My advisor usually steers me towards just gold, but I'm trying to learn more myself.

kenneth_parker💎Premium (500k-1m)Real Investor✓ Verified•about 2 months ago

Platinum's an interesting thought right now, especially with the auto industry potentially picking up. I've been eyeing it too. Found a pretty solid breakdown of the supply/demand dynamics for platinum – and palladium – at kitco.com/charts/platinum.html the other week. It’s a good quick reference for checking production numbers and industrial use cases that have been impacting prices. Makes you think if the current dip is a buying opportunity or a warning sign.