Platinum price forecast | Platinum: strongest precious metal
Platinum price forecast | Platinum: strongest precious metal | 20 NOVEMBER
Platinum Price Forecast relative to Long Term Monthly (LT-M) – Medium Term Weekly (MT-W) – Short Term Daily (ST-D) – and Hourly (not shown) data.
PLATINUM FORECAST
(Previous week in brackets)
| Platinum/USD | LT-M | MT-W | ST-D | |||
|---|---|---|---|---|---|---|
| 943 (892) | ||||||
| PT Trend | ↓ (↓) | ↑ (↑) | ↓ (↑) | |||
| Pt % Risk Weight |
70 (68) | 42 (29) | 89 (52) | |||
| PM Distribution Total allocation 50% (50%) |
Pt:20% | Ag:45% | Au:35% | |||
Platinum / USD live price
Platinum comment
20 November:: Platinum broke above its 2 months 850-900 trading range closing at 943.00 on an hourly bullish level at the end of trading on Friday. If the daily close holds above 943.00 in coming days an objective of 1137 comes in sight which is the upper band of the channel that started in March 2020. The weekly time frame and risk weight looks particularly strong at this moment. The better relative performance of Platinum compared with Gold and Silver now means that a few daily closes nearer 1000 is enough to upgrade the Platinum portfolio allocation if not done already and not wait for the 1037 closing break. Non-US tax retail investors can easily trade Platinum at more competitive rates using the regulated Bitpanda echange. An additional investment in BEST tokens adds some interesting extra benefits. No Change to full allocation.
13 November:: Platinum has been trading in the 50 dollar 850-900 range since Sept 20 and looks to develop a stronger bottom after a 2 step correction from the August 1000 handle. For new investors, the current level is an entry point or a break above 1037. No Change.
GOLD/PLATINUM Ratio Price Risk Analysis
(Previous week in brackets)
| GOLD/PLATINUM Ratio |
LT-M | MT-W | ST-D | |||
|---|---|---|---|---|---|---|
| 198 (212) | ||||||
| Trend | ↓ (↓) | ↓ (↓) | ↑ (↓) | |||
| % Risk Weight |
68 (68) | 17 (50) | 6 (6) | |||
| PM Distribution Total allocation 50% (50%) |
Pt:20% | Ag:45% | Au:35% | |||
Gold / Platinum Ratio Charts
20 November:: Check our freshly updated charts below.
- Daily Risk turned up from down and could pause the relative advance of Platinum for a few days as it moves into a more neutral risk position. The Au/Pt ratio closed below 2.00 for the first time in 5 months. The Gold price was unchanged for the week whilst Platinum improved by 6%. Our preferred scenario is for Daily risk to reverse in the oppositie direction of weekly and then resume its downward pressure. As Platinum is now rising from a very deep level relative to gold anything is possible.
- Weekly risk is strongly trending down still nearing an intermediary oversold condition and because the Gold Platinum ratio now appears to have entered a fresh recovery towards equilibrium, a first objective risk in the intermediary ration downtrend would be a bullish divergence in this weekly time frame. Expect this to happen earliest at the beginning of 2021
- Monthly risk weight now clearly shows a beginning downtrend that started from strong bearish risk to price divergence developing this year
- Quarterly risk is also in a strong dowtrend with bearish risk weight (95 vs 75) to higher price (150 vs 220) divergence. This pattern typically seeks for an objective of a ration at 1.50. Our primary objective is for Platinum to reach par versus gold. Platinum therefore has the most investment potential in the precious metals wealth preservation space.
Monthly Interim Gold Platinum Ratio as at 20/11/20
Quarterly Interim Gold Platinum Ratio as at 20/11/20
13 November::
- Daily Risk oversold at 6 and likely to continue moving into weaker ranges as weekly at 52 and monthly at 68 are in stronger downtrends.
- Quarterly risk in intermediary downtrend