Platinum USD forecast is $1600 then par against Gold | 11 June


Platinum Price Forecast relative to Long Term Monthly - Medium Term Weekly - Short Term Daily - and Hourly (not shown) data.

PLATINUM FORECAST

(Previous week in brackets)

c

Platinum USD Monthly Weekly Daily
1036 (1150)
↓ 10.8%
PT Trend ↓ (↓) ↓ (↓) ↓ (↓)
PT % Risk
Weight
72 (77) 23 (32) 8 (25)
PM Distribution
Total allocation 50% (35%)
Pt:35% Ag:30% Au:35%

Platinum / USD live price



CLICK for full width on tablet and larger devices

Platinum comment

18 June 2021 Last week was the worst performance since our full 1/3rd allocation to Platinum with PT dropping back to just 13% paper profit after cost of physical storage. The entire move may not be over, but the overall short and long term technical outlook still looks very positive given that we should expect another strong move up as Long term Monthly risk has not yet reached typical topping action. This now looks a long time away still and makes our position relatively low risk against any asset class for that matter. So, no change.

11 June 2021 Platinum is holding its trend support line which is positive in a weaker market. Platinum managed to show the lowest printed close for the uqrter at $1150 on Friday but managed to hold the correcting ratio against gold and silver in check. Platinum currently trades in the bottom range of the past 5 months and again looks to be building a bottom at this level. It may again touch the M~arch 2021 lows at 1106, although the overall chart picture looks a bit more promising. We know from history that precious metals (Gold and Silver) can tank overnight often the result of low volume Far East market operations. Platinum of course suffers if that happens, but the larger picture is more positive and we feel much comfort from owning an equal share of Platinum amongst the metals. No Change.

PlatinumUSD (Interim) Quarterly 18 June


GOLD/PLATINUM Ratio Price Risk Charts & Analysis

(Previous week in brackets)

Gold Platinum ratio Monthly Weekly Daily
1.7054 (1.6316)
Trend ↑ (↑) ↑ (↓) ↑ (↓)
% Risk
Weight
31 (25) 98 (94) 94 (87)
PM Distribution
Total allocation 50% (35%)
Pt:35% Ag:30% Au:35%

Gold/Platinum Ratio Charts

Daily Ratio 18 June

Platinum suffered most during the eextended downturn of all metals, but is not showing a longer term change of trend even though all risk weight time scales are now pointing up on this Gold/Platinum ratio. The early last week rapid drop in risk weight could have continued but the subsequent near death of the long term trend developed an equally strong cirrection towards overbought with a potential bearish divergence developing. Risk therefor to hold on to Platinum in an equal ratio to Gold is still low and our cushion is sufficient to allow this risk to develop in our favour once more.

Weekly Ratio 18 June

Weekly risk weight at near 99% supports our overall position.

Monthly Ratio 18 June

Monthly is up at 30% but the shorter term Weekly timescale is now showing more bearish divergence against Monthly.

Qrtly Ratio 18 June

Quarterly risk weight has now ticked up from last quarter by just 3 points closing at 31 on Friday. This is more likely a (part of) blip than change of trend. Corrections can take longer which means the end of this current cycle just takes much longer to complete. Patience with this Platinum allocation is the best technical reading from the combination of all risk weight time scales.


Daily Ratio 11 June

The Gold/Platinum ration reached over 1.65 last week and slightly turned down. The extreme high risk reading from the week before was reason to expect a turn but not from which level. We have to see what happens in coming days and weeks.

Weekly Ratio 11 June

Same as Daily with a downturn from ane Xtreme high reading. We hold our view that Platinum will return to historic equilibrium against gold which is under par.

Monthly Ratio 11 June

No major change in the Monthly chart. Short term direction is now driven by Daily and Weekly momentum.

Qrtly Ratio 11 June

Quarterly risk weight unchanged at 27. No Change to view or impact from this very long term trend indicator.



close

Sign-up to our Newsletter

Read our privacy policy for more info.

Posted in A - All Financial Blogs | 2021 Forecast, PLATINUM FORECAST 2021 | EYEFORGOLD.

Leave a Reply

Your email address will not be published. Required fields are marked *