The two precious commodities Gold and Platinum are headed into different directions.
While I was bearish on Gold form Dec (Post here) and the commodity did came to target of 100 DMA (Post here), the Platinum has broke out and is at new highs after breaking of old top made in Nov.
Attached are the charts.
There is a fundamental reason behind this divergence. Since Platinum is mostly used in cars and recently there has been increase of demand of cars in China its import of metal has increased much more and this has lead to breakout in prices.
While I was bearish on Gold form Dec (Post here) and the commodity did came to target of 100 DMA (Post here), the Platinum has broke out and is at new highs after breaking of old top made in Nov.
Attached are the charts.
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