In the last 5 days, the Platinum future has lost a total of 3.59% of its value. More of the same today: in a range-bound session favoring short positions, Platinum remains constrained in a $1,094.7 to $1,114.4 range and is currently trading close to $1,100.5 per troy ounce.

United States's GDP new data released of 1.1 below its previous figure.

Highly important GDP data from United States beat analyst expectations of two with a reading of 1.1. United States Crude Oil Inventories published yesterday at 14:30 UTC came out at -5 million, falling short of the -1.49 million projections and continuing its decline from the previous -4.58 million figure.

On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 248,000 with a reading of 230,000.

Despite being in the red so far in the current trading session, Platinum peaked above its 3 day Simple Moving Average around $1,114.73 — typically an early indicator of a new bullish trend beginning to emerge. The Platinum future could begin to recover as it approaches significant support, now $6.7 away from $1,093.8. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems the Platinum future —which is currently on a downtrend— might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other Metals as after ending yesterday's session at $3.86, Copper lost 1.75 cents and is trading around $3.84.

Though the Platinum future has been dropping, other Metals have been performing better: having closed the previous session at $25.07, Silver is up 0.51% today to currently trade at around $25.2.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 0.5% from the preceding figure of 0.8%.

Furthermore, United States Core PCE Price Index (MoM) (Mar) is scheduled for tomorrow at 12:30 UTC.

The commodity has been trending positively for about a month. Platinum has fallen back around 3.11% from the significant high of $1,141.5 set 6 days ago.