Nearby NYMEX platinum futures rose 10.38% in Q2 2024 but were only 0.69% higher over the first six months of this year. Platinum settled at $1,001.90 on the second quarter’s final trading day. In my July 11, Q2 Barchart report on the precious metals sector, I wrote:
Platinum has disappointed investors since the 2008 high. The long-term consolidation around the $1,000 level will eventually lead to a technical upside or downside break. The price action in gold and silver, platinum’s rarity and liquidity, production in Russia and South Africa, and its many industrial applications suggest the eventual technical break will be to the upside.
