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Now's a Great Time to Hedge Your Gold Bets [View article]
I am fairly new to investing and only have a small amount of money at work right now. Because of this I feel that I am fairly tolerant of risk. I have been playing UUP (long USD), DZZ (double short gold), and GDX for the past year with pretty good results. I am currently in GDX and recently bought some PTM (long platinum ETN). My reasoning behind this is the fact that Platinum has not been this cheap relative to Gold. For the most part Platinum seems to follow Gold at 1.5-2.5 times. However, in the second half of 2008 Platinum prices dropped three times as much as gold; the ratio is now close to 1:1. I understand that this is in part due to the declining auto industry, but I wonder if platinum is undervalued at this point. Now that Gold and Platinum have both been heading up for the past three months it seems like PTM is accelerating to the upside compared to GLD or GDX. Global auto sales have increased the past two months. Because of this I like PTM very much. Any thoughts or opinions would be greatly appreciated.