Platinum having a new bull run?
I have been buying SPPP for several years now and have been cost averaging down. Platinum has been in a down trend for years. Finally, it looks like Platinum has bottomed and is in a new uptrend. SPPP has broken a long time downtrend line, popped above it and is now retesting. With gold, silver, copper popping higher and higher, it is only a matter of time till Platinum catches a bid. I bought another bunch of shares looking for a continuation of the uptrend. If it fails, we might retest the bottom trendline in the wedge pattern.
Platinum Thesis is quite strong:
-Due to EV and Energy savings, more money is starting to move into commodities
-Many commodities are starting to outperform the broad market
-ICE Vehicles are not going away anytime soon, where Platinum and Palladium are used.
-As Hybrid vehicles are being more widely adopted, they use 3x the Platinum as ICE vehicles
-Platinum is 30x more rare than Gold.
-The miners that produce the metal are mostly in unstable jurisdictions.
-Demand for the metal is up, but we are currently in a deficit and material is difficult to get.
-As deficit increases, price should eventually rise to meet demand
-There are no real replacement for Platinum and Palladium.
Platinum Thesis is quite strong:
-Due to EV and Energy savings, more money is starting to move into commodities
-Many commodities are starting to outperform the broad market
-ICE Vehicles are not going away anytime soon, where Platinum and Palladium are used.
-As Hybrid vehicles are being more widely adopted, they use 3x the Platinum as ICE vehicles
-Platinum is 30x more rare than Gold.
-The miners that produce the metal are mostly in unstable jurisdictions.
-Demand for the metal is up, but we are currently in a deficit and material is difficult to get.
-As deficit increases, price should eventually rise to meet demand
-There are no real replacement for Platinum and Palladium.
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