Metals Minute 135: Platinum Pops
There was an excellent move up over the weekend and into this morning for silver, up 1.5%, and platinum, up 3%. I recommended and purchased platinum last week; always nice to see a pop after purchasing something, although that is not yet the beginning of the move upwards, I expect. When it comes to precious metals, I am more of a saver and investor than a trader and am generally in for the long haul.
Someday it will be time to sell some metal to supplement retirement, but not today. Plus, if some unforeseen emergency arises in the meantime, I know there will be a ready market if I need to liquidate.
Governments worldwide announce new weekly plans to fight inflation by sending out more currency. It is almost as if they haven’t gotten the memo about what helped create the inflation, but here we are.
Talk of Central Bank Digital Currencies doesn’t appear to be going away anytime soon, with nations seeming to be in a race to issue one first. In that world, owning physical precious metals will be important to ensure privacy and protection from inflation.