Platinum Plays Catch-Up But It Has A Long Way To Go
By GCRU Gold News on Saturday, January 20 2018, 01:20 - Permalink
Every dog has its day, and right now platinum looks like it is heading for a test of technical resistance at $1026.50, the early September 2017 high. A move above that level would break the pattern of lower highs and could put the volatile precious metal in a position to test its 2016 peak at $1199.50 per ounce. Even though platinum has rallied more than gold, it remains at around a $325 discount to the yellow metal, and at over $105 per ounce below palladium. On a historical basis, even though platinum is well off its lows, it remains cheap compared to both gold and palladium.