The current price of platinum is $966 and trading above both its 50 and 200 day moving average. A golden cross formation took place at the end of April 2024. The daily MACD is in positive territory and trending upwards. The 14 day relative strength index is currently at 60% and not yet in overbought territory.
The gold to platinum ratio is currently trading at the 2.37 level after having made an all-time high in mid April at 2.56 - another example of absolute market aberration at a time when demand is estimated to outweigh supply for the coming 5 years according to the World Platinum Investment Council.
The last 12 month's price activity was characterized by wild swings in a trendless to bearish tendency where buying the dips and selling the rallies proved most profitable. It remains to be seen if platinum can re-instate itself as the most precious of precious metals. Buying the dips seems to be the wisest strategy at the current time.
Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you.
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