Actually, if you want a long term hedge play in the PM sector, I think that a special set up is coming into place with the pair Pt/Rh, Pt is now priced at $686/ounce, while Rh is priced at $440/ounce, typically, Rh should have a premium of between 20% to 50% over platinum. Platinum s also getting quite expensive relative to palladium (and if any one did not close that hedge on Pt vs Pd (short Pd long Pt which I suggested two two years or so ago when Pd, due to temporary conditions in Russia, was selling at a premium to Pt, now surely is the time to close that one). The play should be, to short Pt and go long Rh or maybe even long half Rh and half Pd (at $166) against the Pt short. All IMTO, and I am not doing this play personally myself. I think that silver may stay sterile for quite some time here.
