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Platinum Metals Caught In Upswing, But Vulnerable

Platinum Metals Caught In Upswing, But Vulnerable

Spot platinum and palladium rise, caught in an upswing as metals assets across the board show upbeat resistance to a firmer USD. However, analysts warn that the palladium market in particular looks crowded. Standard Bank analyst Walter de Wet notes the palladium futures market is very long, whereas platinum may have more room for new longs. Meanwhile, Mitsubishi Corp notes palladium’s drop below the 100-day moving average late last week signals a bearish trend and cautions that palladium could get caught up in any backlash against gold. Spot platinum +1.0% at $1,438.75/oz; palladium +2.0% at $737/oz.

For full article: http://www.metalprices.com/news/article/DN/20130729008026/dj-market-talk-platinum-metals-caught-in-upswing-but-vulnerable



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