Platinum (XPTUSD) Down $16.32 in Last 4 Hours, Came Into Today Down For the 2nd Straight Day; Breaks Below 50 Day Average

Platinum Daily Price Recap

Platinum is down 1.88% ($16.99) since yesterday, marking the 2nd straight day a decrease has occurred. Relative to other instruments in the metals asset class, Platinum ranked 4th since yesterday in terms of percentage price change. Here is a daily price chart of Platinum.

XPTUSD

Platinum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Platinum crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Platinum for the past day were:

  • From dnp3207:

    @JustinMorasch @DeItaOne Remember that JP MORGAN is rigging the paper Platinum price via Aberdeen PPLT Platinum ETF! So that the paper platinum price may fluctuate until it gets stabilized into real supply/demand based price.

  • From platinumquote:

    Hong Kong #Platinum #Price Morning Session Open: $908.2 USD per oz 2020-09-03 08:30:18 HKT