October platinum has made new highs for the past two sessions to close today at $1602.20. It seems to be playing catch up with copper and equities. There has been little resistance from $1532 up to $1603. A rise to the June high of $1617 would be an overdone catch-up reaction in the face of the fundamentals facing the platinum market.

Look for platinum to trade in tight correlation to equities. If the S&P trades through its June 21 high there will probably be follow through in platinum. But at this point expectations based on corporate earnings highlight the disconnect with slow U.S. economic readings.

Oct platinum $1,602.20, up $25.40; Range $1,574.10-$1603.00

Sep palladium $515.85, up $15.85; Range $496.65-$518.60

Dec gold $1,185.40, up $1.50; Range $1,177.70-$1,193.90

Sep silver $18.419, up 41.6 cents; Range $17.975-$18.575