The weakness in gold and silver finally caught up with the platinum market today.  April platinum settled $32.30 lower at $1787.30, just on the verge of negating the $177 triangle chart pattern formed in the last two months.  Investment fund demand has softened for precious metals in favor of other things. 

While April platinum is still in breakout territory it is hard to imagine that gold and silver won’t drag it down further still.  I would say the party is over for the bulls.  In fact it was over when February gold broke below $1350.  While the technical damage in platinum is still salvageable, the gold chart points to lower prices ahead.  That means platinum and palladium too.

Apr platinum $1,787.30, down $32.30; Range $1,781.10-$1,820.70

Mar palladium $784.75, down $31.80; Range $776.25-$810.00

Feb gold $1,332.30, down $12.20; Range $1,321.90-$1,338.00

Mar silver $26.805, down 51.6 cents; Range $26.540-$27.035