Platinum (XPTUSD) Up $10.18 in Last 4 Hours, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

Platinum Daily Price Recap

Platinum is up 1.11% ($10.18) since yesterday, marking the 2nd consecutive day an increase has occurred. Platinum outperformed all 5 assets in the metals asset class since yesterday. Let’s take a look at the daily price chart of Platinum.

XPTUSD

Platinum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Platinum crossed above its 20 day moving average yesterday. 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. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For additional context, note that price has gone up 19 out of the past 30 days.

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