The strength in platinum prices reflects two key factors: the broad enthusiasm for commodities by investors and speculators, and the continued tight industry fundamentals.
The market continues to hold in the middle of the $535-$575 range that has held since early January, with the most recent price action suggesting a bias towards a move higher, rather than lower, within this trading band.
Precious metal prices remain firm, underpinned by ongoing tensions in the Middle East and continued speculative enthusiasm for commodities.
There is very little happening and we're seeing thin volumes today. The market lacks direction; it may continue trading sideways.