Not sure if there’s any specific producers worth watching.
Just one week ago, I wrote about platinum as “the overlooked metal that may be the next major bull market.”
At the time, it was coiling just below the psychologically significant $1000USD level, forming a base while gold stole the spotlight.
Fast forward to today platinum has broken out, jumping over 10 per cent and currently trading around $1080USD. That key resistance at $1000? Smashed.
If you missed last week’s article, read it here.
Why this move is important
1. Technical breakout confirmed
The breakout above $1000USD wasn’t just psychological, it was structural. Platinum had been range-bound below that level for over a year. Now that it’s cleared with strength and volume, this may mark the beginning of a new bullish cycle.
The next key level to watch: $1300USD. A monthly close above that would confirm a long-term breakout, potentially opening the path toward $3000USD-plus over the next few years.
2. Platinum still looks cheap compared to gold
Despite the recent move, platinum remains heavily discounted relative to gold:
• Gold: ~$3250 USD
• Platinum: ~$1080 USD
• Gold-to-platinum ratio: ~3.0
Historically, this ratio has averaged closer to 1.0. Today’s reading makes platinum one of the most undervalued assets in the precious metals space.
3. The fundamentals remain bullish
• Tight supply: South African mines, which produce the majority of global platinum, are struggling with electricity shortages and production delays.
• Growing demand: Platinum is increasingly used in hydrogen fuel cells and clean energy technologies.
• Lack of new supply: Few new projects are entering the pipeline, making any increase in demand likely to push prices higher.
