Platinum to Return to Prominence?

[edit] It probably does not need to be said, but this is not a promo for BullionVault’s service. I in fact, bought my Platinum in the form of the ETFS fund, PPLT.

From NFTRH 475…

Here is the weekly chart version of the daily Palladium and Platinum we usually review. On this view, Platinum is interesting from the perspective of its double bottom to the 2008 low. At this price point will it not start competing with what used to be its cheaper little brother, Palladium? I ask you geologists and or industry types. Given the global party, it might be time to consider a position.

This is the chart that went with it, updated to today. I not only considered a position, I took one earlier this week.

palladium & platinum

I am doing this post because an article about Platinum just showed up in my inbox from BullionVault…

Platinum 2018: Demand Up, Supply Down

Industrial demand is expected to recover this year’s drop, rebounding by 9.1% “after a tough 2017,” WPIC says, “largely driven by increasing demand from the petroleum [refining] and glass [making] sectors.”

Mining output in contrast will fall 1.4%, marking the third consecutive drop and shrinking to the lowest level since the crisis of 2014, when a 5-month strike hit major sites in No.1 producer South Africa.

2018’s resulting deficit will “further reduce the availability of Above Ground Stocks of the metal,” WPIC concludes.


Well, we’ve all read cheery industry reports before. But the above doesn’t hurt the case. For me, Platinum now selling below the price of its kid brother and the weekly chart’s double bottom potential holds my interest. Much like Gold, Platinum has been acting more precious than industrial over the last few years and it seems like it could be a decent transitional play, with respect to the macro backdrop.

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