Tuesday, August 21, 2012

Precious metals

Gold/silver, platinum are now all about important swing resistance in USD terms.  Platinum in particular made a very large move up in the last 3 days.  Historically platinum tends to trade at a tidy premium to gold, but has been trading at a discount to gold for awhile now.  I bot some platinum futures this morning at around 1507 to join the extra silver I purchased above the break around 28.30 yesterday.  I think this obscene strength in platinum is telling me something.

If I don't get stopped out, I plan on holding these for very large gains for months or years to come.  It's about time the macro theme of global currency printing on the backs of low interest rates jumpstarted precious metals for another upleg.