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June 12, 2023The Platinum future is down to $1,012.4 per troy ounce, after ending Friday at $1,017.8. Overall, a 0.53% loss or $5.4 today.
Bollinger Bands® shows an indication of recovery: the lower band is at $990.39, a low enough level to, generally, suggest that Platinum is trading below its fair value.
Technical analysis shows that Platinum (currently on a downtrend) might reverse course and start going up in the short term.
Taking a look at other Metals commodities, negative performances are evident as after ending Friday's session at $3.79, Copper lost 2.9 cents and is trading around $3.76. Silver is down 18 cents from the beginning of the session and now trades around $24.23.
Furthermore, United States Consumer Price Index figure is projected at 0.3%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC.
The commodity has been trending lower for about a month. The Platinum future has fallen back around 10.84% from the significant high of $1,141.5 set a month ago.
