"I notice the prices of Gold and Platinum are rapidly converging on the charts. Any significance in this? Why is Platinum at this moment in time playing Cinderella considering it is one of the most precious of metals by virtue of its rarity?"

Eoin Treacy's view Thank you for this topical email which may be of interest to other subscribers. It is true that platinum is the rarer metal but at present it appears to be valued more for its industrial uses, not least in catalytic converters, than its status as a precious metal. With investors expressing anxiety about global growth industrial resources are coming under some pressure.

Platinum was sidestepped by investors during the last few months as interest in gold increased. Prices have posted three lower highs within the broad 9-month range and a clear upward dynamic will be required to question potential for further lower to lateral ranging.

Gold prices continue to hit new highs, but are doing so on their own among the precious metals. This can be rationalised by gold's safe haven status during a particularly trying time for investors. Gold and government bonds across the USA, UK and Germany are becoming increasingly overextended relative to their respective trend means. Today's key reversal will need follow through tomorrow to confirm that a peak of medium-term significance has been reached. Since gold has performed so well during the crisis to date, it may not be a beneficiary when selling pressure, particularly in equities, subsides.

I agree that the parity level for platinum versus gold has historically offered a profitable entry point for platinum traders but absolute return investors should continue to monitor the relevant prices in isolation as well.