11:47 AM · 9 February 2021

🔼Platinum price highest since 2016!

PLATINUM
Commodities
-
-

During yesterday's session the prices of precious metals clearly rose. Gold and silver were recovering from last week losses, however platinum attracted the most attention from investors. Today the price of platinum is rising almost 2% and is at the highest levels since 2016!

The upward move can be explained by the continued strong demand from the automotive sector, especially in China, and the supply disruptions at South Africa's largest manufacturer due to Covid-19. China's auto market rebounded in the second half of 2020, rising 6.6% in December and is expected to rebound by 7% overall in 2021.

Looking at the weekly interval, the price hit the resistance zone at $ 1,190. Should a break above occur, a way towards $ 1,275 will be open. On the other hand, if sellers will manage to regain control, the area at $ 1020 remains the key support.

Platinum interval W1. Source: xStation5
17 October 2025, 6:28 PM

VIX drops 10% amid Wall Street rebound attempt🗽

17 October 2025, 5:50 PM

3 markets to watch next week - (17.10.2025)

17 October 2025, 5:19 PM

Precious metals decline 📉Gold down 2%; Silver loses 4%

17 October 2025, 6:48 AM

Morning wrap (17.10.2025)

Join over 1 700 000 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 Comissão de Valores Mobiliários (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