Platinum is approaching its best time [Video]
|Listen to the latest market mood for Platinum.
Platinum is approaching its best time of the year due to the seasonal trend of the metal gaining from mid-December and over the first couple of months of the following year. This is a pattern that has stood over the last 25-30 years. Platinum is a market where, according to the World Platinum Investment council, demand is expected to outstrip supply for the end of this year and throughout 2021. Furthermore, there is a strategic role for platinum in the growth of the hydrogen economy too, so demand could expand even further. Is this a great time to go long?
Therefore, expect Platinum buyers as long as price remains above the key trend line on the daily chart.
Trade Risks:
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The main risk to this trade is a strong USD. This will send Platinum lower.
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If we see falling platinum demand that will invalidate this outlook.
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If price falls below the key daily trend line.
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