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

 

 

Trading is risky. You may lose your capital. Read more

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.