The move took shape on March 14 and March 15 across spot and futures tracking charts; traders, miners, refiners, and industrial buyers are watching because both metals are used in automotive and industrial applications. Platinum and palladium both moved lower as fresh chart signals pointed to weaker short-term demand. The latest price action matters because…
The stock was seen to be trading around $17.23 following a sharp turn. This was after a significant low below $5.73. The recovery contributed to the stock price by over $11.50. On a recent X post, technical analyst Rafael discovered a new technical formation in Sibanye Stillwater stock. The company produces platinum and palladium. The…
Markets of precious metals also recorded a sharp position change with the unwinding of the speculative exposure over the futures markets. The platinum prices stabilized around major levels as gold and silver were highly liquidated. Data in the market indicated a reset following excessive volatility. COT Data Reflects Stinging Speculative Position Declines A significant turnaround…
Thursday saw platinum going around the $2,000 mark after a huge recovery from the intraday low. Recently, the XPTUSD chart indicated that the price was close to $2,001.30, having already recovered the price in the 1,960 region and having tested the upper limit of the price at $2,010. The action attracted traders on X who…
Platinum is going through a stabilization period after the high volatility experienced earlier this year. The current price action indicates the metal closing in on a major structural floor, and the sellers are trying to regain their momentum after the drastic fall in February. Although the intraday action is still not well distributed, the broader…
Posts on X are leaning constructive on platinum, while the TradingView palladium chart shows a market trying to steady near the $1,500 zone after a volatile run. Platinum and palladium are drawing renewed attention as traders weigh changing auto demand, ratio breakouts, and a stabilizing technical setup in palladium. The latest discussion is not coming…
Platinum was seen near $1,613 during late-day Wednesday trade after a tumultuous day where prices rallied and retraced. The metal recorded gains of about 0.5 percent during displayed market feeds while sustaining prices above former session lows in the vicinity of $1,602. The intraday range ranged widely from $580 to $1,640. Notably, the trading session…
Amidst an economic crisis, precious metals like gold and silver often act as a safe haven for capital, while other assets fall in value.However, growing concerns over the coronavirus and a possible recession in the near future have created such hysteria and panic, that not even silver, gold, platinum, palladium and other precious metals are…
Platinum futures started July on a slightly better footing after a few weeks of weakness that saw prices pull back from mid-June levels. The TradingEconomics chart shows that the market started at approximately $1616 in the morning and accelerated towards $1653.50, up about 1.5% intraday. Buyers do seem to have found some level of confidence…
At the time of writing, TradingView data showed platinum trading near $1,935.30, up 0.57% on the 30-minute chart after bouncing from fresh intraday weakness. The platinum price remained under pressure today as XPT struggled to recover from a steep pullback below the $2,000 region. The small rebound has not changed the broader short-term picture. Analyst…