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rk's Journal: Precious metals, again 6

Journal by rk

Full Disclosure: I currently only own about a $1,000 in precious metals. I post these because it's a study in the wacky economics we are experiencing. Even if precious metals triples in price, it's not going to cover a month of my expenses. I'm not a professional financial advisor, and I'm not responsible for decisions you make. My personal position on them is to hold, especially for physical possession. Your mileage may vary.

So, out of curiosity, I jump onto Kitco's site again to see what you can buy from them. If you want a gold bar for $295k or a silver bar for 9600, you're in luck. Otherwise, now there's nothing small. Not even the Olympic commemoratives.

And while gold is in decline, Kitco is now buying physical silver at almost 14.5% above spot, and gold at about a half percent above spot.

No premium for platinum. If you happened to buy any when it was $2,000 an ounce, you have my sympathies, plus a smack on the head and a "what is wrong with you?" Platinum really never had the attraction silver and gold have had as an investment, and platinum's primary industrial use is in automotive catalytic converters. Most people don't buy cars in times like these if they can help it. It's harder to work than gold or silver, and fewer people are familiar with it, so its not nearly as convertible as the others.

This discussion was created by rk (6314) for no Foes, but now has been archived. No new comments can be posted.

Precious metals, again

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  • I took my beer cans, two trash bags full, in to the recycler just the day before yesterday. The last time I took two bags of cans there I got almost ten bucks, this last two netted me only $3.85. Not even worth the trip. I'd have my garage half full of cans before I had enough to make it worth my while to take them in! But considering the energy expended to make alumanum from bauxite, I guess I'll still recyelc them anyway, just to try and do my tiny part to stave off global warming.

    • by rk (6314) *
      Indeed, there are reasons why aluminum ore smelting plants are typically right next door to power plants.
    • by tqft (619476)

      Aluminium is the metal I watch for the global economy heartbeat.

      Current price is now under $2,000/t high was over $3,000/t. $1,500/t is basically the "target" price point for a newish Al plant - below that they are producing at an overall loss (LRMC - SRMC is way too specific).

      Price of electricity (SRMC again) is also down

      That is why your beer cans are not worth as much as they were.

      But if we drank $700b worth of beer - would that fix the world economy? Can we try?

      • by SL Baur (19540)

        But if we drank $700b worth of beer - would that fix the world economy?

        Wouldn't matter. It would _seem_ fixed, at least until we woke up the next morning ...

      • by mcgrew (92797) *

        But if we drank $700b worth of beer - would that fix the world economy?

        Well, I'm doing my part!

  • Platinum really never had the attraction silver and gold have had as an investment, and platinum's primary industrial use is in automotive catalytic converters.

    It's also used in the construction of H-bombs, but I suppose we can be happy that that is not considered a "primary industrial use".

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