Today is Sat, November 18, 2017 7:31:15 GMT
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Contributors Another Metal Taking Off

Lately, you’ve probably heard about the surges in gold and silver. However, one that hasn’t gotten quite as much press is platinum.

Platinum bottomed in August (green line below) and has now broken its downward corrective line (red line) in September. Check it out below.

Platinum’s Run is Just Getting Started

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You see, gold is rare … but platinum is rarer. Yet, right now, the price of platinum is still trailing that of gold’s. However, in the months ahead, I believe the price of platinum will outpace gold’s now that is had begun to surge higher.

On top of this, production of platinum has been halted at some of the world’s biggest mines as the miners strike over their wages.

Additionally, paper money is being diluted as central bankers try to pull rabbits out of their hats to boost their economies. This bodes well for hard assets like commodities in general, but especially for metals like gold, silver, platinum and palladium.

There are many reasons to own platinum right now, but I think one of the greatest cases that can easily be seen is the breakout on the chart. To me, it indicates that demand is overtaking supply. In other words, the supply/demand imbalance presently leans in the favor of buyers of platinum and not for those that are short-sellers of platinum.

Have a nice day!

Sean Hyman
Editor, Currency Cross Trader

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