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July 03, 2023Platinum is down to $901 per troy ounce, after ending Friday at $913.2. Overall, a 1.34% loss or $12.2 today.
United States ISM Manufacturing PMI (Jun) is next today at 14:00 UTC.
Platinum's lower Bollinger Band® is at $879.33, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, it seems CME Platinum —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
Taking a look at other Metals commodities, negative performances are evident as Gold closed at $1,919 (down 0.53%). Palladium closed at $1,213.5 (down 0.7%).
Positive performances can be seen by looking at other Metals markets as Silver added 0.48% to its value, now trading at $22.92.
Furthermore, United States ISM Manufacturing PMI (Jun) will be released today at 14:00 UTC.
The commodity has been trending lower for about a month. CME Platinum reached a significant high of $1,141.5 around 2 months ago but has lost 20% since then.
