When Will Platinum Make the Leap Above the 200-Day Line?
Platinum is on the move, close to breaking a significant indicator.
Platinum is on the move, close to breaking a significant indicator.
Last Friday's Federal Reserve meeting is hardly in the media today; why? Jerome Powell followed the market's general assessments and urged caution regarding further tightening monetary policy, although he did not rule it out. This means that other economic data will have to wait.
Especially industrial metals could not escape the global recession concerns of recent weeks. Thus, silver, platinum, and also palladium again felt the repercussions.
The inflation data from the U.S. gave the starting signal for major movements in the commodities markets.
Gold and emerging market bonds are seen as potential protection in a risky environment.
At the end of last week, iridium replaced rhodium as the most expensive precious metal. Rhodium still could not stop the rapid sell-off and is in free fall.