It seems platinum has decoupled from gold and is now trading as an industrial metal following the S&P skyward.  April platinum settled $30.80 higher at $1801.10, taking out the January 3 high and putting in a $70 two-day range.  Gold and silver are still in the consolidation doldrums while palladium and platinum are gunning for new highs.  Optimism about automobile-catalyst demand coupled with strong demand from exchange-traded funds has continued to tighten the markets for the platinum group metals.

The next resistance levels for April platinum are $1813 then $1850.  I’m still cautious because gold is trailing the platinum group metals so heavily but the chart picture is extremely bullish.

Apr platinum $1,801.10, up $30.80; Range $1,764.60-$1,809.90

Mar palladium $806.75, up $23; Range $781.30-$813.90

Feb gold $1,385.80, up $1.50; Range $1,376.30-$1,389.00

Mar silver $29.545, up 0.46 cents; Range $29.395-$29.845