Platinum drops below Gold for first time in over 20 years

[socialize_me]

Looks like Platinum is going to drop like a rock if the bailout fails or shoot up if it's approved.

[Scribbler de Stebbing]

Then good time to buy if bailout fails. You'll have an automotive industry poised to be productive within a couple years and stupid investors who don't get that.

[gls]

It's used in catalytic converters, right?

Even if the big three don't end up getting bailed out (unlikely), wouldn't the other car companies just increase production to meet the demand? So I don't really see why it would make any difference. Of course, in general, as an industrial commodity platinum is susceptible to an economic slowdown. However, as Schiff might point out, most of the pain will be confined to America. Much of the rest of the world will get back on its feet (and buying cars) in no time.

[AmericasLastHope]

I just watched it happen.

Gold is at 820/oz

Platinum $818/oz

[gls]

I just watched it happen.

Gold is at 820/oz

Platinum $818/oz

Yeah, but try and find physical Platinum for anywhere near spot. The disconnect between paper and physical is even larger than with gold.

Edit: Kitco has 1oz Platinum bars for 895 ( https://online.kitco.com/bullion/ ), but the shipping/insurance fees need to be taken into consideration as well.