Thinking platinum might be a sleeper right now? My take as a long-time precious metals guy

• •I’ve been eyeing platinum more and more lately, and I’m starting to wonder if it’s currently the most undervalued precious metal out there.
• •Gold’s been good to me, no complaints, but platinum’s current price action just seems…off.
• •You look at the historical ratio to gold – platinum used to trade at a premium, often significant.

I’ve been eyeing platinum more and more lately, and I’m starting to wonder if it’s currently the most undervalued precious metal out there. I’ve had most of my serious money – we’re talking high six figures, maybe pushing a million overall if you count everything – in gold for twenty-plus years, pretty much since I got close to retirement from the auto industry here in Detroit. Gold’s been good to me, no complaints, but platinum’s current price action just seems…off.

You look at the historical ratio to gold – platinum used to trade at a premium, often significant. Now it’s lagging way behind. I get some of the industrial demand worries, especially with the EV push, but catalytic converters aren't disappearing overnight, and there are other industrial uses. Plus, jewelry demand is still there. It just feels like the market has overcorrected or isn't fully appreciating its rarity compared to gold or even silver.

I’m considering rebalancing a small portion of my gold holdings, maybe 5-10%, into platinum. I’m thinking mostly physical, some bars and maybe a few rounds. The idea of getting a metal that's historically traded higher for significantly less than gold feels like a steal, even if it takes a few years to realize the potential. Has anyone else pulled the trigger on platinum lately? Or am I just looking at this through rose-tinted glasses after two decades of seeing gold do its thing?