Platinum Price News: XPT/USD options market stays bullish for consecutive 13 days

Anil Panchal FXStreet

Platinum’s (XPT/USD) one-month risk reversal (RR), a gauge of calls to puts, prints a 13-day winning streak with the latest 0.364 figures per data source Reuters.

The options market’s bullish bias seems to take clues from the geopolitical tensions surrounding Ukraine. Adding to the rush to risk-safety is the latest jump in China’s daily covid infections.

It’s worth noting, however, that the metal prices print a three-day downtrend while taking offers to renew intraday low around $1,066 by the press time of Friday’s Asian session.

That said, the metal’s latest weakness could be linked to the firmer US dollar, as well as downbeat gold prices.

Read: Forex Today: No peace at sight, financial turmoil continues

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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