During the period of the trading on the international markets has made platinum an incredible rally and dropped in the period from 3rd January to 10th February. The team of analysts and traders in conjunction with the marketing department of the company Trade-24 is paying to your attention the technical analysis of the pricing policy of the precious metal, as well as the possible causes of changes in value.
Financial experts of our company noted four periods platinum sales in this segment. The first period was active from 3rd to 13th January. Average balanced price for the goods has stabilized at rates of $ 906.47 for 987.75 per troy ounce. Strong resistance to the products are causing by the speculation on the value of gold, as well as high levels tend to buy the ability of so-called “neighbouring metals” – gold, silver and palladium.
The second-period cost of goods identified a slight fall in prices. It lasted from 14 to 24 January. Changes in value due to variations in gold on the market – while the commodity itself within three days (January 22-24) lost in value to $ 53 per unit. Trade-24 experts point out two features – high volatility in the market due to the increase in “bullish” trend for gold, and the impact on the total balanced price of precious metals basket.
The last step is the rise of the cost. It lasted from January 25 to February 6 and continued further movement (at this writing). During this period, the value of the precious metal after a small correction began to rise in price from 988.55 to 1007.50 dollars level. Now there is a smooth correction at $ 1015-1017 per ounce goods. The reason for this became proactive reaction of investors and a number of brokers on the stock exchange because of the statements and political decisions by Donald Trump, which makes additional pressure on the metal.
Analysts of Trade-24 company believe that before the end of February we should expect three possible scenarios. The first – to stabilize the price of gold on the correlation level by the formula $ 1,000 +/- 14-18 dollars. In the second scenario will occur towards the support levels $ 945-935 because of the enhanced support of large traders. The third – the commission to break the resistance level at around $ 1015-1019, which opens towards the mark in 1020-1028.