Wild ride with platinum lately, but I'm holding strong
- •Platinum's been a bit of a rollercoaster these past few months, hasn't it?
- •With my real estate developments, I'm used to seeing market ups and downs, but sometimes the commodities market feels like it has a mind of its own.
- •My initial investment in platinum was about $750k a few years back, just under 15% of my overall metals holdings.
Platinum's been a bit of a rollercoaster these past few months, hasn't it? I know we're mostly a gold forum here, but I've got a decent chunk of my precious metals portfolio in platinum through my IRA, and it's been interesting to watch.
With my real estate developments, I'm used to seeing market ups and downs, but sometimes the commodities market feels like it has a mind of its own. I've always viewed platinum as more industrial, and I keep an eye on manufacturing and auto industry news, but the price swings can still catch you off guard. My initial investment in platinum was about $750k a few years back, just under 15% of my overall metals holdings. I’m pretty heavy into gold, obviously, but diversified into platinum and some palladium as well. I'm based out of Aspen, and while the real estate here has been booming, I like having that hard asset hedge against everything else.
My strategy has always been long-term with these metals. My financial advisor and I set these accounts up years ago, and my plan was always to hold, maybe add on significant dips. I actually bought a bit more platinum when it dipped below $900 earlier this year, just a modest $50k purchase. It feels good now that it's bounced back a bit. Anyone else here making similar moves or feeling a bit antsy with the current volatility? What’s your conviction like on platinum for the next 12-24 months?