Gold 
“Platinum prices continued to weaken during November. A combination of a broad-based sell off across commodities markets following the U.S. election coupled with reduced concerns regarding any possible mine supply disruptions out of Russia weighed on platinum prices during November. In October, platinum prices had risen in response to the U.S. government’s comment at the G7 meeting regarding the possibility of sanctioning Russian mined palladium and titanium. Market concerns about such actions dissipated at least for palladium in November.
Platinum prices are likely to move sideways to slightly higher over the next few months. The fourth and first quarter of the calendar year are typically seasonally the strongest. This should help prevent any sharp weakness in platinum prices in the near term. That said, slowing commercial vehicle demand is expected to act as a headwind to platinum prices.
Platinum prices are expected to move in a sideways fashion around $950. There is strong support for platinum prices around $880. On the upside platinum prices are likely to face resistance around $1,000. For prices to break above this level forcefully would require the market to experience some actual or possible supply threat.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
