Platinum’s technical-chart picture improves

New York (March 21)  Platinum has shown sparks of life, climbing by 1.9% Tuesday and trading higher again on Wednesday. It appears to have been boosted by palladium’s recent price surge, said Commerzbank.

 However, the technical picture has also brightened of late after the important 100- and 200-day moving averages held firm.

 What is more, yesterday saw a very large inflow of nearly 40,000 ounces into platinum ETFs [exchange-traded-funds]. Certainly platinum had catch-up potential, especially vis-à-vis palladium – and still does.

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