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13 March 2020, 10:53 AM | #1 |
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Price of Palladium
Anyone into Palladium (the actual metal - not anything weird that might also be named such) heavily?
It's tanked 30% in about two weeks. I always wanted a coin (going back a couple years) but the price kept steadily rising. I kept thinking...I'll just wait til it dips a bit. Gold is still holding strong. |
13 March 2020, 11:19 AM | #2 |
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It's hard to move Palladium.
Even 1oz Platinum Eagles only will get spot most of the time. |
13 March 2020, 01:31 PM | #3 |
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I bought some at $180 an ounce and just sold the last of it at $1500 an ounce.
I bought some some stock in Stillwater mining as well. Cost averaged at $10/ share. it got bought out at $16/share, when palladium was at $800/ ounce. It was the only palladium mine in the USA. I should have bought North American Palladium (from Canada) after that. I thought the same mine company might want to buy it out. But I had a hard time buying into a company that has never made money. It went from $2/ share to $16/share before it got bought out. I think you see the trend here. The South African mining company bought up most of its competition and drove the price up. (Russia is one of the larger producers. I do not know if the mines there have been bought out.) So, I think the +$800 palladium has been artificially pumped up by the remaining mining company. Palladium is mostly an industrial metal as well. So, with the corona virus, I am sure it has taken a huge hit. Even though it is controlled by a monopoly now. A jeweler, I know, said it is a horrible metal to work with. He describe it as working with a plastc grocery bag. It has no malleability it just kind of pulls apart. |
13 March 2020, 01:36 PM | #4 |
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I would by platinum before I would buy palladium at this point.
It's current price makes no sense to me. Historically it has sold for twice what gold and palladium has sold for. I believe it is interchangeable with palladium for the catalytic converters, I do not understand why they have not converted back to it. It looks like it just took a 13% hit today as well. |
13 March 2020, 01:38 PM | #5 |
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When I sold my palladium bullion I got $75 and $100 under spot. And a lot of coin dealers or jewelers would not buy it. So, it is very difficult to sell.
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13 March 2020, 04:51 PM | #6 |
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I recently sold some. Local coin dealers lowballed me or refused to discuss price over the phone but I was able to get a decent offer near spot from APMEX.
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14 March 2020, 01:06 AM | #7 |
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PAL has been inflated in price for some time, while the far more rare PLAT has been priced below gold for some time, which is surprising.
imho PAL pricing seems distorted higher for some time so i'd avoid buying for now. Gold and silver are starting to look attractive imho, yet waiting is prudent as there will be a time to buy soon enough as banksters, central banks, etc sell off anything they can get 'cash' for during this market turmoil. ALL of these metals are easy to liquidate.
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14 March 2020, 07:03 AM | #8 |
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I’m trying to time a PLAT buy.
The pricing is very good right now. |
15 March 2020, 04:31 AM | #9 |
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How about some Rhodium?
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15 March 2020, 04:44 AM | #10 |
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What timing, the cnbc metal guys say buy silver. Something about the silver gold index all time low. (how much silver you can get for ounce of gold)
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15 March 2020, 07:36 AM | #11 |
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15 March 2020, 12:50 PM | #12 |
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15 March 2020, 12:54 PM | #13 |
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15 March 2020, 12:55 PM | #14 | |
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Quote:
Those are industrial metals. Only gold is money with a multi-thousand year history to back that up.
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15 March 2020, 01:45 PM | #15 |
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15 March 2020, 03:10 PM | #16 |
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16 March 2020, 07:12 AM | #17 |
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Yea my post was mostly in jest. It's unreal how much Rhodium has skyrocketed lately. I imagine liquidity is pretty thin on it as well, not many people buying/selling.
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16 March 2020, 08:03 AM | #18 | |
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Quote:
You would get a plastic container that looked like a pill bottle with a seal on it. As far as you knew there could have been talcum powder in it. If you broke the seal the refiner would have to refine it again at a considerable cost. What a nightmare. The only recently created a bullion coin. Last edited by MILGAUSS88; 16 March 2020 at 08:06 AM.. Reason: ..... |
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16 March 2020, 11:58 AM | #19 |
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Sold 12 oz to Kitco last Tuesday for $2,350 an oz.. I think spot at the time was around $2500. Still not bad for me considering my cost average was $383 an oz. Now that I see it tanking I wish I sold more but I'm grateful that I was able to sell some while it was still pretty high.
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18 March 2020, 12:06 PM | #20 |
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I finally got to purchase some platinum!!
A couple coins. |
22 March 2020, 01:21 PM | #21 |
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Anyone else stocking up?
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22 March 2020, 02:15 PM | #22 |
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23 March 2020, 11:15 AM | #23 |
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23 March 2020, 11:41 AM | #24 |
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24 March 2020, 04:53 AM | #25 |
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24 March 2020, 07:57 AM | #26 |
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Silver.com has eagles but they are $8.49 premium. Normally they are $2.49 premium.
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24 March 2020, 08:06 AM | #27 |
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24 March 2020, 08:11 AM | #28 | |
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Quote:
Crazy considering wholesale buyback is $25 under on a bar like that.
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24 March 2020, 11:44 AM | #29 |
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Silver on the move.
Back over 14 |
25 March 2020, 07:11 AM | #30 |
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