Analysis of Platinum Price Surge: What’s Next for Platinum Trading?
In This Article:
Platinum Outlook: Key Levels to Watch Amid Historical Spread with Gold
In this week’s Exness market outlook, we share an idea for trading platinum over the next few days. With the current platinum price having recently tested $1,020, is there possibly important resistance ahead of potential further gains?
The spread between gold and platinum has been quite large recently compared to the historical norm, so there might be more focus on the latter in the near future. Platinum hasn’t been this cheap relative to gold for more than 100 years. Traders have also noted expectations of lower refined production up to the end of the year. This week, there aren’t any critical economic data, but American durable goods might have some impact on markets.
Watch the video to learn how platinum could move in the next few days and where the price might find support and, if gains continue, further resistance.
This article was originally posted on FX Empire