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Platinum Price Prediction: Here?s Why it is Heading to $1,000

ozcopper

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Crispus Nyaga - Aug 11, 2022,

Platinum price held steady as precious metal prices bounced back following the latest US inflation data. It rallied to a high of $950, which was the highest point on June 21st of this year. It has jumped by more than 13.5% from its lowest level this year. This price action is in line with that of other precious metals like gold and palladium.
Weaker US dollar

Platinum price continued its strong comeback as investors focused on the relatively weak US dollar following the latest inflation data. The numbers showed that the country?s inflation eased slightly in July this year as the price of gasoline declined. The average gasoline price dropped from the year-to-date high of $5 per gallon to about $4.

Platinum and other precious metals tend to do well in a period when the US dollar is relatively weak. Indeed, the dollar index declined from the year-to-date high of $109.30 to a low of $104.30. This happened as investors started to price in a situation where the Federal Reserve slows the pace of tightening.

Still, in separate statements, Charles Evans and Neel Kashkari said that the bank will continue tightening in a bid to lower inflation. The base case is that the bank will hike rates by 0.50% in September followed by two 0.25% in the final meetings.

Platinum price continued rallying as investors reacted to the upbeat trade numbers from China. The country?s exports did well in July while imports rose at a slower pace. As a result, the country?s trade surplus widened to over $100 billion.
Platinum price forecast

The four-hour chart shows that platinum has been in a strong bullish trend in the past few weeks. Along the way, the metal moved above the 25-day and 50-day moving averages. It has managed to move above the 50% Fibonacci Retracement level while the Relative Strength Index (RSI) has moved slightly below the overbought level.

Therefore, platinum will likely continue rising as buyers target the next key resistance at $1,000. A move below the support at $920 will invalidate the bullish view.

Platinum-Price-1024x495.png


Source: https://www.investingcube.com/platinum-price-prediction-heres-why-it-is-heading-to-1000-commodities/
 
before that there was and it did went up before the turn, did not reach $1,000

The Top 10 Reasons For Investing in Platinum
Incredible Value Trade
By David Mitchell 26th July 2022
https://sgd.indigopreciousmetals.com/news/top-10-reasons-to-buy-platinum-now/

Platinum_USD_chart_for_25_years.1658812547.jpg
 
the other side of another story is $400 Platinum, when everything fall below March 2020 levels
maybe there are some exceptions  :)
 
I reckon the long-term prospects for platinum and palladium aren't bullish. With their main use as a catalyst in the automotive industry and our ongoing shift toward EVs, it doesn't look favourable to "invest" in these metals.

They are still precious metals though and I'd be a buyer if the price dropped to eye watering levels.
 
being able to get a coin when the spot price is that low, may be most unlikely, there will not be seller and spot does not stay there for days. the premiums will kill it anyway.
 
STKR said:
I reckon the long-term prospects for platinum and palladium aren't bullish. With their main use as a catalyst in the automotive industry and our ongoing shift toward EVs, it doesn't look favourable to "invest" in these metals.

They are still precious metals though and I'd be a buyer if the price dropped to eye watering levels.
Future hydrogen cells will need platinum as a converter so don't toss the stuff in the bin.  ;)
 
https://www.sciencealert.com/scientists-identify-yet-another-rising-atmospheric-emission-due-to-humans

they always blame the humans
so wonder the attack on Hydrogen as well

just like Cow methane gas, and fake meat

Technology control etc
 
Silver Soul said:
STKR said:
I reckon the long-term prospects for platinum and palladium aren't bullish. With their main use as a catalyst in the automotive industry and our ongoing shift toward EVs, it doesn't look favourable to "invest" in these metals.

They are still precious metals though and I'd be a buyer if the price dropped to eye watering levels.
Future hydrogen cells will need platinum as a converter so don't toss the stuff in the bin.  ;)

That's quite interesting. I didn't consider this but do wonder to what degree they could replace the demand for catalytic converters in combustion engines. It appears that it's used as a catalyst pre-combustion, rather than post-combustion to reduce carbon emissions.  I do own a little bit of platinum but it doesn't appeal to me they way silver does. The same is true for gold. I don't like how the overall market demand is dependant on a few factors. Silver has so many uses that if demand were to die off in one sector, it could still be supported by others.
 
alor said:
https://www.sciencealert.com/scientists-identify-yet-another-rising-atmospheric-emission-due-to-humans

they always blame the humans
so wonder the attack on Hydrogen as well

just like Cow methane gas, and fake meat

Technology control etc

They blame people, and they want to kill people. MASSIVE population reduction is their goal, and then have whomever is left living in smart cities sleeping in a pod and eating the bugs.
It's sort of worrying that most of the world's population got the jab.
 
https://www.indigopreciousmetals.com/bullion-products/platinum/1-oz-platinum-valcambi-bar-in-assay.html
promo
 
another update.

Platinum Severely Undervalued
4 Charts of Platinum
September 2nd 2022

by David J Mitchell  https://sgd.indigopreciousmetals.com/news/four-charts-of-platinum-exciting-investment-case/
 
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