April platinum lunged for a high of the day of  $1851.10 before settling at $1838.10, $13 off of the high.  Platinum should break through the thin resistance at $1850 any day now.  Auto catalyst demand is still as strong as ever and will probably remain so in the intermediate term.  That means higher platinum and palladium prices.

The dollar index broke its support but it didn’t seem to help gold very much.  February gold is holding its support though.  I’ve been concerned about gold and silver weakness spilling over into platinum.  So far I’ve been proven wrong.  It’s been a sideways, choppy trade for gold and silver and a huge $141 range for the month of January in platinum, from $1710 to $1851 and climbing.

If January platinum breaks through the $1850 resistance the next stop would be $1950. 

Apr platinum $1,838.10, up $9.80; Range $1,824.10-$1,851.10

Mar palladium $819.75, up $9.30; Range $811.65-$829.85

Feb gold $1,370.20, up $2.00; Range $1,365.50-$1,378.90

Mar silver $28.801, down 11.1 cents; Range $28.725-$29.490