Platinum is still close to the bottom of a big ‘L’ formation on the charts. The longer the choppy, sideways trading goes on the more the $1500 level becomes a support platform for higher prices. With gold and silver gunning for new highs the fund speculators will sooner or later plunge into platinum and push it beyond $1600. It could happen fast but it hasn’t yet. For now October platinum is hovering just below its short term resistance of $1560.

Summer is over and it’s going to get interesting again.

Oct platinum $1,556.30, down $4.80; Range $1,546.30-$1,568.20

Dec palladium $523.20, down $8.25; Range $520.75-$533.00

Dec gold $1,259.30, up $8.20; Range $1,246.40-$1,261.60

Dec silver $19.914, down 3.5 cents; Range $19.585-$20.045