Platinum USD forecast is still $1600 | 04 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)
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| Platinum USD | Monthly | Weekly | Daily | |||
|---|---|---|---|---|---|---|
| 1162 (1177) |
||||||
| PT Trend | ↓ (↓) | ↓ (↓) | ↓ (↓) | |||
| PT % Risk Weight |
78 (80) | 35 (42) | 27 (23) | |||
| PM Distribution Total allocation 50% (35%) |
Pt:35% | Ag:30% | Au:35% | |||
Platinum / USD live price
Platinum comment
04 June 2021 The 15 month old trend in Platinum has already come a long way whilst the 5 month correction is mostly sideways. We are in a long term corective bull market which has some way to go. The next target is the $1400 - 1600 range, next $1900.
There is technical bullish divergence between short/medium and long term risk weight. Our 25% price cushion is sufficiently comfortable to to stay fully invested with about 1/3rd physical Platinum of total precious metals.
28 May 2021 close: With channel support at $1070 our Pt cushion is still 15% (after 0.5% storage cost) whilst the long term picture must first develop peaking action. This looks to be many months away with intermediate channel resistance at $1600.
If Platinum closes above $1200 this quarter, the current quarterly downtick as shown on the quarterly risk chart below, with today's close at 1177 will turn back up.
No update this week on our Gold/Platinum ratio analysis. Platinumn however looks to be ending its correction against gold fairly soon as short and medium term risk weight is ready to change direction from being significantly overbought.
No Change to our physical Platinum allocation.
PlatinumUSD (Interim) Quarterly 04 JUne
GOLD/PLATINUM Ratio Price Risk Charts & Analysis
(Previous week in brackets)
| Gold Platinum ratio | Monthly | Weekly | Daily | |||
|---|---|---|---|---|---|---|
| 1.6265 (1.5034) |
||||||
| Trend | ↑ (↑) | ↑ (↑) | ↑ (↑) | |||
| % Risk Weight |
24 (13) | 99 (80) | 98 (99) | |||
| PM Distribution Total allocation 50% (35%) |
Pt:35% | Ag:30% | Au:35% | |||
Gold/Platinum Ratio Charts
Daily Ratio 04 June
Similar picture as Platinum Silver with Gold/Platinum ratio seeking to develop bearish divergence in this time scale. Expect a correction down from the recent 1.40-1.60 move.
Weekly Ratio 04 June
Risk weight closed the week at near 100%. The next few weeks should prove a continuation of the new trend that started in March 2020.
Monthly Ratio 04 June
The interim Monthly correction at this percentage risk level (25%) as shown above cannot be used as an indicator in its own right. Given the shorter term position this monthly is more likely to return to the trend that started with a double monthly top in 2020. We would like to see bullish ratio price to risk weight divergence to call a potential bottom. Still aiming for par.
Qrtly Ratio 04 June
Quarterly Risk weight of the Gold/Platinum ratio actually is still down but at the higher interim level of 27%. Creating more potential in this longer term correction cycle back to par.
Daily Ratio 21 May
Daily risk weight is now showing potential bearish divergence in extreme risk territory. We would expect Platinum to end this short term correction versus gold within a few days.
Weekly Ratio 21 May
The risk weight sprint against the long term trend continued last week. It may not be finished but this kind of parabolic spike in a weekly time scale should not last very long.
Monthly Ratio 21 May
The below comment was made two weeks ago and still stands
The mild correction that has been developing since February has caused this blip up in risk weight which again could easily last a bit longer although we are looking at an interim monthly chart reading. We expect the Gold/Platinum ratio price to fall into the 1.20 to 1.30 range that was recorded in 2015-2016. We are in the early stages of a major reversal cycle trend and that always develops bullish divergence near the end of the cycle before a major potential turn can be expected. That has yet to materialize.
Qrtly Ratio 21 May
Quarterly Risk of the Gold/Platinum ratio remains down at the same 20% risk level as last week. Platinum remains a long term equal hold to gold with a higher return potential as price delivers par sometime into next year.