My personal portfolio: Platinum futures long position increased
Comment of the Day

January 02 2013

Commentary by David Fuller

My personal portfolio: Platinum futures long position increased

David Fuller's view Having doubled my silver (weekly & daily) position on Monday, I did the same with my platinum (weekly & daily) holding today, although both these positions are considerably smaller than my gold longs (weekly & daily). This morning, I paid $1566.6 for another long in April platinum , including spread-bet dealing costs. The rebounds in precious metals on Monday and today have been encouraging, although platinum and the others really need to retest and then break above last year's highs to significantly reinstate my bullish hypothesis for the medium term. I may have to be patient as we have only just entered the 17th month of their lengthy medium-term correction followed by support building phase prior to resuming the overall upward trends. Following previous upward accelerations such as we have seen for gold in 2011, these pauses have averaged approximately 21-months.

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