The S&P 500 is heading once again for its May lows. We’ll see if platinum follows suit. The October contract closed today at $1,568.20 after touching a low of the day of $1,548.30. There was marked profit taking above $1600 in previous sessions. $1500 here we come.

Slackening auto catalyst demand and talk of a double dip recession in the U.S. economy should continue to weigh on prices.


Oct platinum $1,568.20, down $6.50; Range $1,548.30-$1,579.00
Sep palladium $470.00, down $4.35; Range $461.90-$479.00