October platinum closed $44.50 higher on the day at $1594.40. It stands to reason. The cheapest metal is platinum and the most overbought is silver. With gold making another all time high, platinum has suddenly become undervalued.

If platinum can consistently trade above $1600 it will be on track to follow gold and silver higher still. The funds are now buyers and platinum is a precious metal again, not just an industrial necessity.

Oct platinum $1,594.40, up $44.50; Range $1,553.30-$1,595.90

Dec palladium $553.80, up $24.00; Range $532.00-$554.45

Dec gold $1,271.70, up $24.60; Range $1,246.00-$1,276.50

Dec silver $20.432, up 28.1 cents; Range $20.030-$20.550