Platinum

[FXFatcat]

Discuss your ideas about platinum here.

[YES]

Don't mind if I do!

Platinum. I went into a bit of a dodgy trade at 1550. Price is at 1520 at the moment. The forecasts for 2012 from the major banks and players; and also looking at supply and demand, it seems platinum could have a prolonged ranging period between $1700 and $1800. That's obviously about $200 higher than we are now. I'm going to hold my long for a few months and see what's happening then (as long as the platinum price doesn't crash!).

[UncleBuck]

I'm pretty tired of all this drifting. I've been holding onto Platinum for about 6 months now and it's just been ranging sideways.

I'm expecting 1400 to be a strong support now. I don't expect price to break through that level between now and the New Year. At new year start I believe investors will be opening up new long positions in Platinum, pushing the price up.

Between now and Christmas, expect narrow trading ranges with very low liquidity; but be ready for any spike in price as low volume can move price significantly.

[UncleBuck]

This is a 5 year chat for platinum. I thought you'd find it interesting if you aren't too familiar with the metal.