Platinum some years ago use to be king! out shinning even Gold, now a days It struggles to hold itself above the $800 an OZ platform, since the uses are Similar and prices are so low in comparison, i would think it would be do For a rebound ?
Oops, I forgot platinum was a thing, but I feel like Palladium has stole the lime light of platinum due to palladium mint releases.
The primary uses of platinum and palladium are for catalytic converters. Platinum is much more common and Russia controls most of the palladium supply. When Pt was triple Pd years ago, some auto manufactures switched to Pd. This requires an expensive retooling of the converter factories. Now that they are close in price, it isn't economical to switch back to Pt from Pd. I believe that the price of platinum is going to be tied to the world economy going forward. With Europe cutting back on diesels and electric cars gaining popularity, the prospects for Pt relative to other precious metals is marginal at best. Just my honest opinion.
well, i think like most pm,s there has to be a rebound period and I just think Platinum is do, maybe try and get in on the cheap..LOL Will probably pick up some APE,S if it gets in the $780 range, just Dont see it going down much further, there are still allot of other Uses for Platinum beyond the automotive industry.
I would have to agree with this. Technically speaking this looks like a double bottom to me. I don't know that it will make it below 800 again. If you are looking to buy, the risk of missing out for a 5% savings is outweighed by reward of catching the move up, from this price of 820$ IMHO Breaking the orange downtrend lines would signal the end of the bear market since 2011.
