Read more
9:53 AM Β· 17 February 2021

🚐 Platinum drops almost 3% πŸ“‰

PLATINUM
Commodities
-
-

Platinum, precious metal used in the production of catalytic converters for the automotive sector, is dropping almost 3% today. Declines can be reasoned with a strong pullback on the gold market. Gold dropped below $1,800 yesterday and the downward move is being continued today. Recent underperformance of precious metals is a result of rising US yields and USD strengthening. Interestingly, platinum is more vulnerable to changes in sentiment towards precious metals, while it should be more vulnerable to changes on the industrial metals market. Meanwhile, industrial metals continue to trade at relatively high levels.

Platinum has declined over 8% off recent peak at $1,340. Price is pulling back into the upward channel. The closest support can be found at $1,200 and is marked with 2016 highs. While platinum is trading in tandem with gold today, it has not always been the case earlier in 2021. Source: xStation5

28 November 2025, 6:53 PM

Daily Summary: Wall Street and energy markets end the month on a wave of gains.

28 November 2025, 6:18 PM

Silver Sets Fresh Record Highs!

28 November 2025, 2:33 PM

Three Markets to Watch Next Week (28.11.2025)

27 November 2025, 6:52 PM

Daily Summary: Wall Street absence limits market's activity

Join over 2 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the ComissΓ£o de Valores MobiliΓ‘rios (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits