Today’s session was a rip snorter for precious metals, with new all time highs in gold and yet another 30 year high in silver. January platinum closed up $28.60 at $1700.70. It looks like $1700 is going to be the new normal for platinum just as $1500 was normal all summer. Look for consolidation at these new heights if not a continuation of the rally to the April 2010 high of $1760. A stock market rally would be icing on the cake for industrial platinum.

Jan platinum $1,700.70, up $28.60; Range $1,667.70-$1,703.60

Dec palladium $578.20, up $16.90; Range $556.10-$579.75

Dec gold $1,340.30, up $23.50; Range $1,313.30-$1,342.60

Dec silver $22.737, up 70.1 cents; Range $21.810-$22.770