Platinum price forecast | 13 NOVEMBER | Platinum performs better than Gold and Silver
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 | |||
|---|---|---|---|---|---|---|
| 892 (897) | ||||||
| PT Trend | ↓ (↓) | ↑ (↓) | ↑ (↑) | |||
| Pt % Risk Weight |
68 (68) | 29 (31) | 52 (55) | |||
| PM Distribution Total allocation 50% (50%) |
Pt:20% | Ag:45% | Au:35% | |||
Platinum/USD live price
Platinum/USdollar comment
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.
06 November:: Investors in Platinum are waiting in the virtual wings even though they don’t know it yet. Platinum, during the past 3 months, shows a different price pattern than during the previous 12 years. The Ratio versus Gold seems to have turned and looks technically very vulnerable. Pt/USD Resistance from the 2008 peak has been broken on a monthly closing basis 3 months in a row making November the 4th month if it holds above 865.00. This would be very bullish triggering a rapid acceleration once the platinum price closes above 1037 which is the resistance level since 2016. The next objective then becomes the much higher peak of 2011 at 1924. If the 1037 level is broken we would expect the Gold price to be in a slower uptrend. No Change in allocation for now and ready to add if 1037 breaks.
GOLD/PLATINUM Ratio Price Risk Analysis
(Previous week in brackets)
| GOLD/PLATINUM Ratio |
LT-M | MT-W | ST-D | |||
|---|---|---|---|---|---|---|
| 212 (217) | ||||||
| Trend | ↓ (↓) | ↓ (↓) | ↓ (↑) | |||
| % Risk Weight |
68 (70) | 50 (62) | 6 (52) | |||
| PM Distribution Total allocation 50% (50%) |
Pt:20% | Ag:45% | Au:35% | |||
Gold/Platinum Ratio Charts
13 November:: Check our freshly updated charts below.
- 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
Monthly Au/PT Ratio as at 13/11/20
Quarterly Au/PT Ratio as at 13/11/20
6 November:: Risk weight of the Gold/Platinum ratio is clearly seeking direction moving from down to up and down again in all time frames.
- Daily Risk levelled last week after shooting up from a deep oversold position the previous week, now turning mildly down again in a neutral medium risk position.
- The Weekly also turned down again by 16 risk points with some way to go before reaching any kind of oversold position. This still calls for a medium term outlook of a lower Gold/Platinum ratio.
- The fresh November Monthly figure also turned down showing bearish risk to price divergence on the first tick, hence leaning more towards long term Ratio weakness.
- The Quarterly chart confirms the very long term direction of the ratio now being down. We still aim for that Long term equilibrium of Gold/Platinum = close to 1.