Wednesday, February 23, 2011

The low of the day in April platinum was $1771.10, right on top of support due at $1770. With gold up another $14.00 and silver up another forty cents, it seems platinum is set to resume trending upward.

The crude oil market is on fire due to tensions in Libya. Platinum should be due for some safe haven wall-of-worry buying in the coming sessions. Probably not spectacular, straight up buying as in crude oil, but some.

Apr platinum $1,776.70, down $9.60; Range $1,771.10-$1,812.00
Mar palladium $774.55, down $31.15; Range $765.10-$811.80
Apr gold $1,414.00, up $12.90; Range $1,396.00-$1,417.30
Mar silver $33.298, up 43.6 cents; Range $32.680-$33.765

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