Thanks as always for the very valuable service you provide. As I see it, The Platinum weekly chart tried to go below 200 MA a few times but failed. How important do you think this is, and do you think it also has implications for gold? Tks in adv. 

Eoin Treacy's view

Commodity prices have been depressed relative to where they traded over the last decade so it is noteworthy that an increasing number are now sustaining moves above their respective trend means; especially since this had been an area of resistance during the downtrend. 


The fact both silver and platinum are now outperforming gold is a positive development. They are considerably smaller markets than gold so due to their relative illiquidity money moving in tends to have a more discernible effect which contributes to their status as lead indicators. 

The continued uptick in the holdings at ETFs is an additional bullish sign because this represents the return of marginal buyers. 

Perhaps the most telling signal investor interest has been reinvigorated in precious metals is the continued rebound in the shares of gold miners.