I have reached out to nearly every major financial publication to explain what is happening with platinum, the platinum group metals, gold and silver. Yes, I am long but my real ax is just the pleasure of sharing.
Of course humility in the face of the markets is important to me but I do have, at least, a valuable and different perspective, in my mind, on this market, with the credibility of 40 years on Wall Street and experience as a General Partner of Lazard Freres.
Still, even with numerous connections in the press, I have not been able to get a single publication to share what I think is really going on in these markets. In part, their absence is a testament to this sector remaining an undiscovered opportunity.
Sure, it sounds suspect to speak of the platinum group metals (PGMs) let alone gold and silver as undiscovered opportunities. But I have not seen a single report speak of the metals in the context of world money flows, specifically addressing the small size of the annual supply within each market relative to the currency markets. I also have not seen reports that do a good job to explain the historical purchasing power that gold has retained in the face of the eroding value of world currencies coupled with the perspective on the annual supply.
The press is truly under a rock and even with gold having rallied from $1260 to $1550, platinum having exploded over the past few weeks, now up $100, and silver making huge moves, the press is simply putting out old-school clichés about uncertainty and the catalyst of lower interest rates. Both do have some relevance but they are really not the story.
It is much more about the size of world investments, the small size of the precious metals markets, the pricing of these markets, the purchasing power history of gold and silver, and the critical, essential role of the PGMs, in the face of the goal of having assets grow at least at the pace of inflation if not more.