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February 26, 2008


Mustn’t Hurt the Precious

Here’s a look at the monthly chart of platinum. Looks like a classic blow-off to me, a massive short-squeeze maybe, I dunno. What I do know is that young urban women in China are demanding platinum engagement and wedding rings these days — gold is both yesterday and déclassé.


Click to enlarge (Platinum, Spot price, Monthly)

Here’s the volume-at-price picture… green stairsteps for a solid three weeks.


Click to enlarge (Platinum, Spot, Volume-at-Price)

This entry was posted on Tuesday, February 26th, 2008 at 10:09 am (utc+8) and is filed under Metals.

4 Responses to “Mustn’t Hurt the Precious”

  1. Nik said:
    February 26th, 2008 at 3:28 pm

    Growth in platinum jewelery in China happened in the late 90’s and early 2000’s. The largest growth factor now is in catalytic converters in automobiles which is both in the number of vehicles produced and also the amount of Pt the autocatalysts are loaded with.

    But I guess most of the automobile market growth is happening in China anyway :)

  2. C. Maoxian said:
    February 26th, 2008 at 3:39 pm

    Nik: That jibes with many young urban women in China demanding engagement and wedding cars these days. You may have heard the joke in China, “BMW” stands for Be My Wife.

  3. v838mons said:
    February 27th, 2008 at 5:47 am

    i think the Point & Figure provides the most striking visual:

    $PLAT - P&F Charts from StockCharts_com
    http://stockcharts.com/def/servlet/SC.pnf?chart=$plat,PLTADANRBO[PA][D][F1!3!!!2!20]&pref=G

    the $Silver P&F will soon resemble this runaway as well…

  4. C. Maoxian said:
    February 27th, 2008 at 6:49 am

    v838: Yes, well all arithmetically-scaled charts look exaggerated … the precious metals all look like blowoff tops to me already as the public (?) rushes in. (This is why I stuck Gollum on the big chart. :) )

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