Platinum was up 5% during Thursday but failed to latch on to levels above $1100. It has been under pressure for the last week after rallying 33% to 5-year highs at $1150 since November. The levels near $1200 and $1400, where reversals and consolidations frequently occurred in the past years, appear as potentially important targets for the bulls.
Silver and platinum have been faring markedly better than Gold in recent months, as investors in the markets are increasingly betting on strong growth in industrial demand for these metals. Perhaps some investors have decided to realign positions in favour of silver and platinum, resulting in Gold lagging in January.
