Platinum is the outperformer of recent days – Commerzbank

FXStreet Insights Team FXStreet

However, Platinum has recorded by far the strongest gains in recent days: since the beginning of last week, the price has risen by around $200 or around 16%, Commerzbank's commodity analyst Barbara Lambrecht notes.

Trend is not yet apparent

"For the first time since April 2013, a troy ounce of Platinum now costs more than $1,600. The extent of the price increase undoubtedly gives cause for skepticism, but Platinum is still very cheap compared to Gold in historical terms. This may have sparked buying interest."

"The first significant inflows were also recorded in the Platinum ETFs tracked by Bloomberg over the last five trading days. However, holdings remain low, and a trend is not (yet) apparent."

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FXStreet Insights Team

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