Platinum (XPTUSD) Up $14.46 in Last 4 Hours, Tops All metals; Nears 20 Day Moving Average

Platinum Daily Price Recap

The back and forth price flow continues for Platinum, which started today off at 920.10718 US dollars, up 2.07% ($18.64) from the day prior. Platinum outperformed all 5 assets in the metals asset class since the day prior. The daily price chart of Platinum below illustrates.

XPTUSD

Platinum Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For additional context, note that price has gone up 18 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Platinum:

  • From joburgindaba:

    Stephen Forrest: forecast is for platinum to remain oversupplied in the short term. In the longer term, a deficit will push up the platinum price, prompting more projects to come online, but this is unlikely to offset the deficit going into 2030 #pgmsindustryday #joburgindaba

  • From platinumquote:

    Hong Kong #Platinum #Price Morning Session Open: $899.6 USD per oz 2020-09-09 08:30:18 HKT