Platinium/ Buy optionThere are several factors that are causing platinum to be much cheaper than gold at the moment. Chief among them is the expected decline in demand for the metal, due to the decline in diesel car sales in Europe, mainly because a significant part of metal consumption is related to catalytic converters used in diesel cars. The depreciation of the dollar is another factor that negatively affects the price of platinum, as well as other precious metals.
Since the beginning of 2021, the metal has been steadily decreasing its stock price and at the moment we are observing indications of its upcoming appreciation.
I have noted three main zones on the daily and weekly charts that will influence the movement of the new bullish trend.