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View Full Version : Platinum Bottomed Reached ??



Frank
08-20-2008, 10:07 AM
Today it seems Platinum outperform GOLD ? Does it mean Pt has bottom up ? Right now Oil up, USD up, GOLD down $9 and Platinum remains UP. Anyone any idea will Pt break down $1300 again ?

Mozart
08-20-2008, 10:20 AM
Today it seems Platinum outperform GOLD ? Does it mean Pt has bottom up ? Right now Oil up, USD up, GOLD down $9 and Platinum remains UP. Anyone any idea will Pt break down $1300 again ?


Frank,


There's no guarantee that Pt won't break below $1,300 anytime soon, but, given the conditions on the markets, the Mineweb report of the now TIGHTER Pt supply conditions compared to the supply conditions during the power crisis earlier this year, Pt has a good chance of having turned the corner with the bottom of being close to $1,300 and now is holding steady in the mid-$1,300s so far and shows signs of moving upward, overall now.

Frank
08-20-2008, 10:32 AM
Frank,


There's no guarantee that Pt won't break below $1,300 anytime soon, but, given the conditions on the markets, the Mineweb report of the now TIGHTER Pt supply conditions compared to the supply conditions during the power crisis earlier this year, Pt has a good chance of having turned the corner with the bottom of being close to $1,300 and now is holding steady in the mid-$1,300s so far and shows signs of moving upward, overall now.

Now it has gone negatives due to dollar strength, when will USD begin to weaken again ? If USD keeps strenghthening, Pt will be hard to rebound right ? Also with the world economy slow down, how much far up can Pt rebound ? Can it reach $2000 just like the good old days again ?