Listen to the latest market mood for Platinum:
Platinum is approaching its best time of the year due to the seasonal trend of the metal gaining from mid-December and over the first couple of months of the following year. This is a pattern that has held up over the last 25-30 years. Platinum is a market where, according to the World Platinum Investment Council, demand is expected to outstrip supply for the end of this year and throughout 2021. Furthermore, there is a strategic role for platinum in the growth of the hydrogen economy too, so demand could expand even further. Is this a great time to go long?
Expect Platinum buyers as long as price remains above the key trend line on the daily chart.
- The main risk to this trade is a strong USD. This will send Platinum lower.
- If we see falling platinum demand, that would invalidate this outlook.
- If the price falls below the key daily trend line.