Thoughts on Platinum - Anyone else looking at it for their IRA?

Robert Thompson

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Thoughts on Platinum - Anyone else looking at it for their IRA?

robert_thompson💰Established (100-250k)

about 1 month ago

Key Takeaways

•Been seeing a lot of chatter lately, and it's got me wondering about platinum.
•I diversified about $150k into physical gold back then and haven't looked back from my home here in Phoenix.
•But now with gold doing so well, my portfolio is pushing close to $250k, and I'm starting to think about what's next.

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Been seeing a lot of chatter lately, and it's got me wondering about platinum. I've been a gold bug since the '08 crisis hit my teacher's pension pretty hard, and ever since, my IRA has been primarily in gold and a bit of silver. I diversified about $150k into physical gold back then and haven't looked back from my home here in Phoenix. But now with gold doing so well, my portfolio is pushing close to $250k, and I'm starting to think about what's next.

I remember back in the day, platinum used to trade at a premium to gold, or at least be right up there. Now it seems like it's lagging quite a bit. Makes me wonder if there's a real opportunity here to pick up something that's genuinely undervalued for a long-term play. I'm not looking to day trade, just looking for smart moves for my retirement account that hopefully protect me from whatever the next financial hiccup is. Gold has been that for me, but it feels like the easy money has been made there, at least for a while.

What are people's thoughts on platinum right now? I know a lot of its demand comes from industrial uses, especially the automotive industry with catalytic converters, which makes me a little nervous with the move to EVs. But on the other hand, it's still a precious metal, rarer than gold, and widely accepted for IRAs. Has anyone here actually moved some of their precious metals allocation into platinum? Or are you sticking purely with gold and silver?

I'd love to hear some perspectives, especially from those who've been in the physical precious metals game for a while like me. Am I crazy to be thinking about platinum when gold is so strong, or could this be a smart diversification play for the next decade?

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7 comments

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Best Answer▲ 13 upvotes

margaret_chen🏆Advanced (250-500k)

My advisor told me 10-15% in gold is the sweet spot but I went heavier. We'll see how it plays out.

Comments (7)

gary_stewart📊Growing (50-100k)•about 1 month ago

Interesting thought, OP. While platinum definitely has its industrial uses and a higher price point per ounce than gold historically, I'm a bit more skeptical about its long-term safe-haven appeal in an IRA. Gold has thousands of years of history as a store of value and is universally recognized, whereas platinum's demand is more tied to specific industries like automotive catalysts. If those industries take a significant hit or find alternatives, platinum's value could be more volatile than gold's.

For an IRA, especially looking at retirement, that stability and proven track record of gold might be more important than the potential for platinum's industrial-driven spikes. Just something to consider when weighing up the options!

ronald_morris👑Elite (1m-5m)Real Investor•about 1 month ago

Totally get where you're coming from! My grandfather actually bought a ton of platinum back in the 70s as a hedge against inflation. He always said it was the "industrial precious metal." It's definitely an interesting one to consider, especially with the talk around green tech and its uses. I've been eyeing it too, though haven't pulled the trigger yet. Would be curious to hear if anyone here has gone for it and how they're feeling about their allocation.

janet_cook📊Growing (50-100k)•about 1 month ago

Interesting thought! So you're primarily in gold and a bit of silver right now. When you say you're "looking at it," are you considering adding platinum as a completely new allocation, or perhaps rebalancing some of your existing gold/silver into platinum?