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How Much Higher Can Platinum Go: "It Feels Like Someone Is Loading Up On A Flat Price Position"

From zerohedge.com

Yesterday, in "What's Behind The Recent Surge In Platinum, And Will It Continue", we not only explained in detail what is going on both at the technical and fundamental level, but also answered in the affiramtive and why - yes, it the surge will continue. One day later the surge has indeed continued, and having decisively broken $1200 earlier this week, platinum spiked another $100, touching a session high of $1285, and is now just dollars away from the post-covid high above $1300. {chart} For some perspective on what comes next, we go to Goldman materials specialist James McGeoch who writes today that having cut ... (full story)

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  • Category: Fundamental Analysis