Listen to the latest market mood for Platinum.

Gold is about to approach a very strong time of year in terms of seasonal demand. The Chinese Lunar New Year drives up demand for gold as traditionally gifts of gold are given over this period which drives up the physical demand. However, platinum may offer a better buy ahead of the Fed’s meeting. If the Federal Reserve are bearish and add some kind of easing bias into the meeting then the USD will weaken. That supports commodities higher. Furthermore, any positive vaccine news will also support platinum due to it being an industrial metal. With Platinum rising higher on vaccine hopes and a bearish Fed the stage could be set for some strong gains over the next few weeks. One to watch!

Therefore, expect Platinum buyers.

Trade Risks: The main risk to this trade is a strong USD if the FED are more optimistic than the market was expecting.

Chart

Learn more about HYCM

High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.

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