| Account | Shares | Price | Value | % of acct | Cost/sh | Gain $ | Gain % | Target |
|---|---|---|---|---|---|---|---|---|
| 401K | 2,527 | $15.16 | $38,309 | 1.56% | $17.92 | $-6,981 | -15.4% | — |
| RLT | 547 | $15.16 | $8,293 | 0.49% | $20.57 | $-2,959 | -26.3% | — |
| ROTH | 102 | $15.16 | $1,546 | 0.60% | $19.45 | $-438 | -22.1% | — |
| Total | 3,176 | $48,148 | 1.07% | $-10,377 | -17.7% | — |
In short: Named as the evidence for a re-classification he can see but won't underwrite: "I note that when precious metals run, the influxes of capital into things like the Sprott Physical Platinum and Palladium Trust increase. So, it could be that in the minds of a subset of investors, platinum and palladium are being reintroduced into the precious metals matrix." The framing behind it: "I often think of platinum and palladium in an investment context as being related to the auto catalyst market, but… a lot of cultures, particularly East Asian cultures, have traditionally regarded the platinum group metals as precious metals." The explicit abstention: "I don't know enough about that to comment. I haven't studied the platinum market other than the supply side of the platinum market since I left Sprott."
SPPP is a fund that simply holds physical platinum and palladium in a vault — the platinum-group equivalent of holding gold bars. Rule raises it as evidence rather than as a recommendation. Asked why platinum and palladium have been moving alongside gold and silver this year, he points to fund flows: "when precious metals run, the influxes of capital into things like the Sprott Physical Platinum and Palladium Trust increase."
What that might mean is a change in category. Investors have mostly treated platinum and palladium as industrial metals, priced off demand from catalytic converters in cars. But "a lot of cultures, particularly East Asian cultures, have traditionally regarded the platinum group metals as precious metals." If Western investors start doing the same, the metals get a second source of demand that has nothing to do with car production — and get repriced accordingly.
He then does something worth noting more than the observation itself: he stops. "I don't know enough about that to comment. I haven't studied the platinum market other than the supply side of the platinum market since I left Sprott." He can see the flow, name the plausible explanation, and still decline to put a view on it.
31:18And I note that when precious metals run, the influxes of capital into things like the Sprott Physical Platinum and Palladium Trust increase. So, it could be that in the minds of a subset of investors, platinum and palladium are being reintroduced into the precious metals matrix. I don't know enough about that to comment. I haven't studied the platinum market other than the supply side of the platinum market since I left Sprott.
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.