Technically speaking, platinum can be due for an uptrend. But could take months for it to show sign of uptrend.
The last great shortage fear-induced panic buying spree in palladium occurred in 2000-2001. (It was only last month when palladium finally took out its 2001 high.) Palladium's great bull market began quietly in 1997 at about $125/oz. Over the next four years, a cumulative 800% gain occurred.
By contrast, from 1997-2000, platinum went nowhere. It began trading at a discount to palladium in 2000.
By the time palladium prices peaked in 2001, platinum was sporting a $400 discount to its sister metal - the same as today.
What is next for platinum could be similar to what was next for it back then. By 2002, platinum prices caught up with palladium's. Platinum proceeded to embark on an epic bull market - from under $500/oz to over $2,200 when prices peaked in 2008.
The last great shortage fear-induced panic buying spree in palladium occurred in 2000-2001. (It was only last month when palladium finally took out its 2001 high.) Palladium's great bull market began quietly in 1997 at about $125/oz. Over the next four years, a cumulative 800% gain occurred.
By contrast, from 1997-2000, platinum went nowhere. It began trading at a discount to palladium in 2000.
By the time palladium prices peaked in 2001, platinum was sporting a $400 discount to its sister metal - the same as today.
What is next for platinum could be similar to what was next for it back then. By 2002, platinum prices caught up with palladium's. Platinum proceeded to embark on an epic bull market - from under $500/oz to over $2,200 when prices peaked in 2008.