Couverture de Platinum's Wild Ride: Why This Metal Just Doubled and Where It's Headed Next

Platinum's Wild Ride: Why This Metal Just Doubled and Where It's Headed Next

Platinum's Wild Ride: Why This Metal Just Doubled and Where It's Headed Next

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 https://www.instagram.com/vanessaclarkipai

This is your Daily Platinum Price Tracker with Vanessa Clark podcast.

Hey friends, welcome back to Daily Platinum Price Tracker with me, Vanessa Clark. Today Im diving into the latest on platinum prices, whats driving the market, and some smart tips to help you stay ahead.

Right now, the spot price of platinum is sitting at around 2099 dollars per ounce, according to recent trading data from Twelve Data. Thats after a bit of a pullback today, down about 1.67 percent from yesterday's close, with the days range hitting a high of 2149 dollars and a low near 2073 dollars. Earlier this morning, Fortune reported it at 2094 dollars per ounce, up a touch from yesterday but still riding high on a massive yearly gain of over 112 percent from last years levels around 987 dollars. Wow, what a ride.

The Sprott Physical Platinum and Palladium Trust closed up 2.82 percent at 17 dollars and 70 cents, as noted by AInvest, though technical signals are mixed with some bearish hints from MACD and moving averages pointing to possible support around 16 dollars and 76 cents. Broader factors like supply shortages from South African mines, slower electric vehicle rollout keeping demand strong in catalytic converters, and investors eyeing platinum as a cheaper safe haven next to gold are fueling this. Valterra Platinum even says deficits will stick around.

For you listening, heres your takeaway: if youre thinking platinum for your portfolio, cap it at 10 to 15 percent to balance the volatility from industrial uses like autos. Watch key levels around 1950 to 2120 dollars for short-term moves, and consider ETFs for easy exposure without storing bars.

Thanks for tuning in, pals. Hit subscribe, share with a friend, and catch you next time on Daily Platinum Price Tracker. Stay shiny.

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Check out Vanessa on Instagram https://www.instagram.com/vanessaclarkipai
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This content was created in partnership and with the help of Artificial Intelligence AI
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