The Conversation (0)
Will Adams of the Bullion Desk took a look at some of the factors affecting platinum prices recently, and at whether or not platinum could come back anytime soon.
Will Adams of the Bullion Desk took a look at some of the factors affecting platinum prices recently, and at whether or not platinum could come back anytime soon.
As quoted in the publication:
Prices look oversold, but they have been attempting to rebound in recent days. Some buying is emerging via the ETFs, which may help underpin the market. The longs on Nymex are still very long, but have generally remained committed. The gross short position is just below a record high, which suggests a considerable risk of short-covering once a base is found.
We would be on the lookout for an up-wave, but it may take a few attempts before one leads to a meaningful recovery.