Platinum is approaching its best time [Video]

Giles Coghlan LLB, Lth, MA Financial Source

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:

The main risk to this trade is a strong USD. This will send Platinum lower.
If we see falling platinum demand that will invalidate this outlook.
If price falls below the key daily trend line.

Learn more about HYCM

Author

Giles Coghlan LLB, Lth, MA

Financial Source

Giles is the chief market analyst for Financial Source. His goal is to help you find simple, high-conviction fundamental trade opportunities. He has regular media presentations being featured in National and International Press.

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