International Precious Metals (IPMCF) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : International Precious Metals (IPMCF)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: go4it who wrote (11190)	6/5/1997 9:34:00 PM
From: Derrick P.	of 35569

Speaking of Kitco, pulled this off: << D.A. (wild.times): To All: Last I heard a few minutes back platinum was up to around $475. Pa is $225 bid. The forward, lending and option markets have completely shutdown. Cash market spreads are $20 wide in platinum and $10 wide in Pa. Small amounts of metal can move the market a long way. There are a lot of very stressed out people. The biggest losers in the Pa market are going to be the commercial users. I know of a midsize refiner that is plum out of metal and needs to turn it into catalytic converters. We may not be too far away from the point where the politicians get involved. If GM wakes up one morning and finds that the assembly lines must grind to a halt because of no Pa it will be quite interesting. My guess is that sometime within the next month or two there will be a workout between Tiger Fund and the big commercial users of Pa. Until this happens the markets will be totally wild. Never underestimate how far out of hand these things can get. As I guessed a week or two back the next run is going on in Pt because this is the only substitute for Pa. It is looking more and more like the Russians are done with stockpile sales and will only deliver from current production. If this is the case about 2.0 MM ounces of demand will have to be rationed through price. This will keep the price of Pa high for many moons to come. Right now people believe that this is a squeeze that is a short blip and will terminate soon and things will get back to some semblance of order and prices will retreat sharply. This is clearly evidenced by the Sept Pa futures trading $50 below spot. If there is a sharp selloff when Tiger comes to terms or the Russians begin delivering, buy it. The Palladium stocks are great buys hear because no one believe this rally has legs. Just got a call that the Platinum, and Palladium are shut down. No dealers making markets, last Platinum $525 bid. Got to run. More Later. >> DA gave a heads up on this about a month ago and has been quite accurate. I do not doubt that the government will be looking for a 'solution' for this soon. If IPM got 'run up the flag pole' it would be some very positive attention and could end all this negative publicity. Derrick

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next