Rick Rule and I sat down today to discuss the current state of the precious metals markets and more. Rick knows that he’s ideally situated for the next move up and is content to wait for that move. He’s also is extremely bullish on platinum and palladium. As long as the West wants clean air and abhors smog, they will pay whatever it takes to keep their catalytic converters going. The average car has $200 worth of platinum and palladium contained in its converter. If it goes up to $400 or ever $800, auto purchasers will continue to pay the price. And the supplies of the precious metals are not increasing, so future prices are near certain to go up.
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