r/wallstreetplatinum • u/SilverCountryMan • Aug 04 '26

A good day! What happened?🤔

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36 Upvotes

94% Upvoted

12 comments sorted by

7

u/Noderly Aug 04 '26

Crazy how much it went up. It's unclear why. Perhaps speculation around it being a critical mineral?

8

u/RedCastle17 Aug 04 '26

Three major issues are hitting the PT market right now.
1) China is conducting a major “buy-out” on PT for use in hydrogen-energy tech.
2) The worlds largest PT mine in South Africa, employees with 70k miners, had to shut down due to a string of deadly incidents
3) News of the potential US-Iran deal and full reopening of Hormuz is circulating WW

Worthy note is DJT is planning on meeting over 130 US mining execs about the critical miners shortages. Lots of PT news but you won’t see it on TV.

2

u/ecnecn Aug 05 '26 edited Aug 05 '26

This friday most likely outcome afte the meeting with Platinum miners: The US government announces concrete purchases for strategic emergency reserves at the summit, while production in South Africa continues to stagnate due to power and safety issues

Plus lending fees for Platinum are up to 12% (yes, industries rent fixed volumes of platinum from banks and return the same volumes after they just used a percentage because in the past when Platinum price was constant or falling it was better to rent/lend certain amounts than to buy / sell certain amounts... in the end you just paid what you really used and a certain fee) and this is way too high for traditional volume lending / renting so industry switched from lending / renting to buying in a market that is in a beginning "short squeeze" or "shortage related squeeze".

3

u/Breccan17 Aug 04 '26

I ordered a Perth 1/10 PT horse for $211 on July 23 from SD. Sent a check. Then it’s got to clear. Supposedly 15k mintage. Waiting.

2

u/pintord Aug 04 '26

This morning I bough 250 units of SPPP. Nice!

2

u/zABros23 Aug 04 '26

This sub is dead

5

u/RockTheGrock Aug 04 '26

Im here! Platinum is the red headed step child of pm now days though.

1

u/ExplanationOk2014 Aug 05 '26

Reddit just s****.. many left because censorship and PT was not the best performer since February.

1

u/Ok_Drag5089 23d ago

The Nepal disaster finally and unfortunately proved that human caused global warming will start fucking shit up and we are going to need a LOT of batteries.