Since inception as an investment metal platinum is not seen as the metal traders would choose, although long term investments are now held. Note the actual investing part of the demand, it was not present before 2007. In the picture below we can see the composition of platinum demand by sectors and the total demand. The fact that offsets platinum ability to be a metal to go in an economic crisis is the demand for it. Platinum at the moment cannot be your ultimate hedge asset as gold and silver can be, despite its scarcity and decreasing supply. The primary platinum supply and projection for the next few years is in the picture below.Īs with gold and silver, platinum is also having a decreasing supply projection, creating a bullish sentiment. When we turn to demand, platinum is used in the industry, automotive, dental, medical appliances, and jewelry for making white gold alloy, even though pure platinum jewelry is not common. If you are interested in investing in platinum, you will be a minority investor by choice. A total of 8 million ounces are currently mined out from the earth, gold has 6 billion, and silver 3.5. The total platinum supply is extremely scarce compared to gold and silver, by far. It is like a metal that comes along with them, not primarily the goal of the mine opening, except in South Africa. South Africa is the place where platinum is mined but actually, platinum can be considered as a by-product of gold, nickel, and some other metals mining process. This shift has more to do with demand than with the supply of platinum.
Before platinum was a more expensive metal. Platinum crossed paths with gold in 2011, to the point platinum is currently trading at $860 and gold at $1900 per troy ounce, it took only 9 years for gold to double.
All the adjustments we have made to our technical trading system for precious metals is already described, therefore, we will focus on the specifics of platinum. Note traders should be familiar with the system we use, although the analysis and opinion presented here can be useful for everyone interested in widening their opportunities and skills from forex to the precious metals market. We will approach palladium trading the same way we have described in previous articles.
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