Platinum Makes New Record Highs
Has anybody seen what Platinum has done lately? Over the past 2 days Platinum prices have exploded higher on increasing supply problems in South Africa.
Above is a daily chart of Platinum and below is a 7 year weekly chart. As you can see, platinum is one of the strongest metals right now. Platinum has also pulled gold and silver higher as all 3 metals tend to trend together. I personally feel gold is vulnerable to sell off, but I will NOT look to pick tops, I'll just remain on the sidelines and observe.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
3 comments:
What are some ETF's of platinum?
Keep up the great work!
When South Africa gets its grid functioning again, watch that price come straight back down. It's a trap man! Wait for a BIG pullback, then buy the *normal* bull market in the metal.
Oh, and I just sent the spammer here about fifty emails. I'll keep flaming them every day until they stop spamming my favorite blogs. I invite you all to do the same.
Hi Lonley trader,
I agree with you about waiting for a big pullback...I wasn't suggesting that we should buy Platinum here...I just wanted to point out what Platinum was doing because most people probably weren't even aware that there was a huge rally taking place in this metal.
I'm glad you sent out the fifty emails to that spammer, he's so annoying. I allow everyone's comments to go through (good and bad I have nothing to hide) but I see I may have to start approving comments if the spamming continues...
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