Sunday, 25 September 2011

While we were 'distracte​d'............from Rico

While we have been 'distracted' by all the pillow-biting from the talking heads of FTV and the latest shenanigans by the Useless Nitwits, something worth noting has been happening.

Gold now costs more than Platinum.
In London yesterday, about 3.1% more.
- Compare that to the past decade's average price of Platinum being 39% higher than Gold.

By 3Q of 2012 this 3.1% premium may be closer to 26%.

The LBMA (London Bullion Market Association) is looking at an average price for Gold of $2,350 compared to an average price for Platinum of $1,860 for late 2012.

Either way you slice it, it is going to take far greater amounts of Benny-bucks to buy the same ounce of Gold or Platinum...or Silver which by all accounts is much scarcer in physical form that Gold, with Supply-Demand indicating it will outperform Gold handily.
- There appears to be a global 'scramble' for physical Silver as well as a looming delivery problem on the COMEX whose vaults are almost empty of the stuff.


2 comments:

Tailwind said...

Theo:
Harvey Organ has a great nightly summary of the metals where he lays out the amount of physical, etc. and comments on things such as the CME/COMEX manipulations of PM's. VERY GOOD stuff that also covers the macro picture. You can find his site here: http://harveyorgan.blogspot.com/

Anonymous said...

So if gold is going up relative to the dollar because of dollar inflation, is it going up relative to platinum because of platinum inflation? Or does this prove that gold is a bubble?