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Is it time to buy platinum yet?

by , 20 November 2014

When the platinum price crashed in 2008, it lost two-thirds of its value. Then over the next 18-months, it more than doubled in price.

So what's going on with platinum now? And is it time to buy?

The price appears to be crashing again.

Let's take a closer look…


The platinum price has fallen hard


Over the past three-months, platinum has fallen by nearly 20%.

In October, it dipped below $1,200 an ounce for the first time in five-years.

Traders are hating platinum at the moment.

Just last month Bloomberg said that “speculators cut wagers on higher prices by 70%, from a record in July, and are now the least bullish this year”.

When the market hates an, this is a time to become interested.

But the key to not making the wrong decision is waiting for an uptrend to return to the price. You can’t time a market bottom. It’s very risky.

Just have a look below at the chart of the platinum price over the past year…


12 month chart of platinum price


At the moment, the price is in freefall. And it could fall further than you think, Dr Steve Sjuggerud in Daily Wealth explains.


You might be able to pick up platinum jewellery at knock-down prices


But the current low platinum price can throw up opportunities where you least expect it. Take platinum jewellery.

Platinum is normally more expensive than gold. At the moment it’s just a few dollars more expensive an ounce than the yellow metal.

This means you might be able to pick up some platinum jewellery at a discount. If you’ve got some presents to buy for Christmas, it’s worth considering.

But in terms of investing in platinum, hold off for now. You want to see the bottom in the price first and a return of an uptrend before committing any cash.

So there you have it, why it isn’t time to buy platinum just yet.

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