Platinum dip buyers ahead

Author: Giles Coghlan | Category: News

Platinum eyes higher prices.


Yesterday I highlighted the strong seasonals for Platinum. See here. Gold, Bitcoin, and silver have all benefited from a weaker dollar. As a reminder, if you look over the last 33 years you can see that Platinum has had a very strong start to the year pretty consistently.

Platinum eyes higher prices.


This is no mistake since many industrial purchases of Platinum tale place at the start of the year. One possible area to rejoin this move, if you are not already in,  is any retracements to the area marked on the chart below. This is a break of a key level that should provide support on a first test and is exactly where price is at the time of publishing, intraday stops could be run nice and tight at 1040. The path of the USD and the Georgia state run offs are most likely to push this one way or the other followed by the FOMC minutes on Wednesday. 

Platinum


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