Is Platinum about to break higher?

by John Knobel

  • Higher inflation outlook helping to push up demand for precious metals
  • Precious metals are viewed as an asset to hedge against inflation
  • Platinum prices also have the support of potential improved global economic conditions which could drive up demand for platinum for industrial use
  • Current price testing the $1,026 resistance a break above opens up the prospects for a push towards the $1,120 extension, downside support spotted near $880

Source: Depaho ltd. / Bloomberg