Friday's move was unexpectedly large and sudden following a stronger dollar across the board. Platinum lost 3% more than gold which felt like a disappointment, but doesn't move our longer term targets. We may need more patience during this longer correction. Risk weight is expected to follow its typical correction trend towards the 10-15% level.

Weekly risk weight can easily create a bearish divergence going into August with a higher correction high. Risk is also that it will not make that higher high and turn down again. Either way the technical position is 'Hold' in favor of long term Platinum strength.

The visible Monthly v-shaped risk weight bottom is less likely to be finished on the downside like it was in 2010. The logic in 95% of primary trend direction cases is that monthly develops bullish divergence at least once and possibly more often. Following this principle removes the risk of bottom picking at a too early stage. We look to let this market run its technical course, besides the fundamental reason to use the now much cheaper platinum to clean combustion engines. Platinum is traditionally the richest and physically the heaviest of precious metals.

Quarterly risk weight is still down and is a leading indicator in the current primary trend towards equilibrium. It may even take a few more years to finish the present move. Hold Platinum in equal quantity to Gold.

The Platinum recovery stalled last week but found some fresh impuls on Thursday Friday. On the Daily chart we need yet to see a signal of an more serious intermediate Gold/Platinum ratio bottom. Based on this daily chart formation we are still in a correction of the larger move and that low has yet to materialize.

The latest weekly chart position on risk weight across our tools may still develop a new intermediate high before the downtrend resumes. We confidently remain with our good 1/3rd (physical) Platinum and equal to (physical) Gold allocation.

Monthly risk weight needs to make a real bottom either in deep low risk territory like, < 5% or bullish divergence associated with a lower Gold/Platinum ratio. This has yet to materialize and supports our overall position.

Quarterly risk weight is down into the new quarter and picking up the existing long term trend. That trend may take a few years to transpire, like the 1973-1979 move which resulted in a 50% drop of the Gold/PT ratio. A similar drop, probably on shorter time scale would trigger our long term equilibrium objective. As that happens Equilibrium or the multi decade average is then likely to be broken in the process before turning back up again. Physical Platinum therefor is likely to remain a strong hold in our long term portfolio.