Loading ...The Forgotten Precious Metal
Platinum : or $PLAT at it is ominously known at Stockcharts
Doesn’t look so hot. There is a rather large H and S Topping Pattern with another smaller one forming here.
The Platinum Price traditionally has been Higher than the Gold Price. The Ratio spikes during Gold Bulls
Some say that the Platinum Gold Ratio is a barometer for economic growth.
Now if you are Gold Bullish please consider this chart. The phrase Nothin Doin comes to mind.
I wanna be a Bull too ..but this gives me the creeps !
Pretty much an all time low here.
God help Us if this is a halfway pattern.
Wake me up when this ratio gets back to 1 (One)…that would be a breakout !
But hope springs
Interestingly I used to collect counterfeit Spanish gold doubloons from the colonial era that were made from platinum and plated in gold. Platinum only gained value in VERY modern times and in fact the colonial era Spaniards would toss it in the trash. I expected the lopsided spread to show up and even though its more than anticipated already, wouldn’t be surprised if it got even larger at some point. Of course a PM bull market could close it up and send it Plat positive 1st. I could easily see a time when gold is $1000+ more than plat per ounce. If we ever do have a PM bull market again that is. lol
http://fc2.coinshome.net/en/coin_definition-8_Escudo-Platinum-Spanish_Empire_(1700_1808)-sxEK.GJAcf0AAAEt5fvO8ELY.htm