Follow The Trend, Follow Platinum
The precious metals complex remains susceptible to intraday price swings as inflation and geopolitical headlines drive the interest rate narrative.
The weakness during the early part of last week was met with longer-term safe haven buying interest, which lifted Gold, Silver and Platinum into the weekend.
With the US markets closed on Monday in observance of Columbus Day, we expect the focus to turn to Wednesday’s Consumer Price Index report.
Physical Gold priced in USD traded higher during 4 of the 5 sessions last week and rose 1.2% to close at $4195.00.
The daily Relative Strength Index (RSI) is 46.25 and pointing higher, Initial support is at $4050.00 and resistance is at the Thirty-Day Moving Average (30-DMA) near $4270.00.
Gold denominated in AUD finished the week 1.1% higher at $6005.00. Initial support is at the double bottom low near $5850.00, and resistance is $6080.00.
The daily RSI is 48.00 and it is turning higher. A close above the 30-DMA at $6050 would improve the technical tone and suggest a durable low is in place.
Physical Silver priced in USD recovered from weakness early in the week to finish with a 1.2% gain at $60.81. The daily RSI is 44.00.
Initial support is $58.50, and resistance is near the 30-DMA at $63.70.
Silver denominated in AUD closed out the week with a 1.0% gain at $87.05. The daily RSI is 45.00 and pointing higher. Initial support is $84.10, and resistance is the 30-DMA near $89.80.
The Gold versus Silver ratio closed the week pretty much unchanged at 68.90, which means it takes 68.90 ounces of Silver to equal the price of one ounce of Gold.
Physical Platinum fell to a two-month low at $1612.00 on Wednesday and then staged a strong reversal higher to finish the week fractionally higher at $1698.00.
The daily RSI jumped from an oversold reading of 35.00 to 44.00 during Thursday and Friday, which represents an impressive 5.3% rally from the low price of the week.
This type of weekly price reversal often leads to significant range extension over the near-term.
One of the chart patterns we have recognized over the last several years is that many substantial rallies in Gold and Silver have been preceded by a move higher in physical Platinum prices.
It is important to note that Platinum is a unique, high-yield asset that bridges the gap between precious metals and industrial commodities.
Platinum’s exceptional rarity, structural market deficits, diverse industrial applications, historical undervaluation relative to Gold, and role in green energy make it a highly strategic addition to a balanced, long-term investment portfolio.
Platinum is 15 times rarer than Silver and 30 times rarer than Gold.
As illustrated on Chart 1, with annual global production hovering around 180 tons, compared to 3300 tons of Gold and 25,000 tons of Silver, the Platinum market is expected to experience continuous structural supply deficits over the next four years.
This intrinsic scarcity establishes a strong baseline for long-term value appreciation of the physical metal.
Beyond traditional catalytic converters, Platinum is increasingly vital for sustainable energy technologies and data centres.
It acts as the primary catalyst in hydrogen fuel cells, which are crucial for the decarbonization of heavy transportation and portable power generation.
As shown on Charts 2 and 3, the increase in demand for physical Platinum is not seeing a corresponding increase in new supply coming online.
With that in mind, as developed nations tighten emission standards and push for green infrastructure, demand from these eco-friendly sectors is expected to provide sustained upward pressure on Platinum prices.
In addition to the industrial usage trending higher over the last five years, sharp gains in Platinum demand stem from a 300% rise in investment coins and bars, which jumped to 460,000 ounces during the first quarter of 2026.
Like Gold and Silver, physical Platinum acts as a tangible hedge against currency devaluation and rising global fiscal deficits.
When fiat currencies lose purchasing power, hard assets that cannot be artificially printed have historically acted as a secure store of value and their intrinsic value has increased.
Gold, Silver, and Platinum have historically served as a reliable safe haven during periods of currency devaluation and economic uncertainty.
Regularly accumulating physical Gold, Silver, and Platinum allows investors to preserve their wealth independently of the traditional banking system and free of paper asset risks.
Hard assets are the purest form of money and offer wealth security.
Last week’s price reversal higher in Platinum could be the catalyst that brings in more long-term buyers for an end-of-year rally.
As such, now is the time to consider scaling out of underperforming paper assets and adding more physical Gold, Silver and Platinum to your long-term wealth creation strategy.
As such, now is the time to consider adding to your hard asset holdings and making Gold, Silver and Platinum the cornerstone assets in your long-term wealth creation strategy.
This publication has been prepared for the GBA Group Companies. It is for education purposes only and should not be considered either general of personal advice. It does not consider any particular person’s investment objectives, financial situation, or needs. Accordingly, no recommendation (expressed or implied) or other information contained in this report should be acted upon without the appropriateness of that information having regard to those factors. You should assess whether or not the information contained herein is appropriate to your individual financial circumstances and goals before making an investment decision or seek the help the of a licensed financial adviser. Performance is historical; performance may vary; past performance is not necessarily indicative of future performance. Any prices, quotes or statistics included have been obtained from sources deemed to be reliable, but we do not guarantee their accuracy or completeness.