Platinum Futures—Platinum futures in the October contract is up $2 at 819 an ounce after settling last Friday in New York at 815 up about $4 for the trading week still experiencing very low volatility as prices are right near a 3 week high. I will be recommending a bullish position if we break the 838 level while placing the stop loss at the contract low which was hit on May 30th at 793 as the risk would be around $2,300 plus slippage and commission.
Gold futures are trading almost $600 higher than platinum as in the old days platinum used to trade higher than gold as this spread is really wide at the current time as I think platinum prices look extremely cheap to the rest of the sector and especially gold.
Platinum prices are now trading above their 20 day, but still below their 100 day moving average as the trend at the current time as mixed as I will wait for the breakout to occur before entering as I will not go short.
The volatility you would have to think will start to expand to the upside in the coming weeks and months ahead as it looks to me that prices over the last month are forming a bottoming out pattern.
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