Platinum weekly special report based on 1.00 Lot Calculation:
PATINUM USE AND MARKET SHARE:
- PLATINUM has been a key element in autocatalysts for over forty years. The automotive sector is its largest consumer, accounting for about 40% of annual demand.
- MARKET SHARE (PRODUCERS): BIGGEST PLATINUM PRODUCERS IN THE WORLD: South Africa is the largest producer, holding 72.8% of the global market share, while Russia is the second with 8-10% of the market. Zimbabwe is third with 5%.
- MARKET SHARE (CONSUMERS): China is the world's largest platinum consumer, with 34%, while Europe holds 22% and North America 16% of the platinum consumed worldwide.
EVENTS (CHINA):
- WEDNESDAY, APRIL 30 AT 01:30 GMT+1: MANUFACTURING PMI (APR) (PREVIOUS: 50.5). Stronger-than-expected manufacturing PMI data could indicate rising manufacturing activity in China, the world's largest consumer of platinum, potentially supporting higher platinum prices.
EVENTS (USA):
- WEDNESDAY, APRIL 30, AT 13:30 GMT+1: US GROSS DOMESTIC PRODUCT (GDP) (Q1). This is the first report for the first quarter of 2025. The last GDP data for Q4 2024 came out at 2.4%, down from the 3.1% in Q3 2024. However, if the data shows further decline, the US Dollar may weaken, potentially leading to a rise in platinum prices.
- FRIDAY, MAY 2, AT 13:30 GMT+1: US NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (APRIL): The U.S. labor market report will be in focus. In March, NFPs came in at 228K, and the unemployment rate rose to 4.2% from the previous 4.1%. If the unemployment rate keeps the upward trend (4% in January, 4.1% in February, and 4.2% in March), it could lead to a decrease in the value of the US dollar, potentially leading to a rise in platinum prices.
ANALYSTS’ OPINION:
- BANKS’ FORECASTS: Commerzbank forecasts $1,050; Deutsche Bank forecasts $1,150; J.P.Morgan forecasts $1,200; UBS forecasts $1,100.
PRICE ACTION:
- PLATINUM HIT AN ALL-TIME HIGH OF $2,300 (March, 2008). Platinum currently trades around $990 and if a full recovery takes place, then platinum prices could see an upside of 132%. However, Platinum prices could decline as well.
Platinum, April 29, 2025
Current Price: 990.00
|
PLATINUM |
Weekly |
|
Trend direction |
|
|
1,200 |
|
|
1,150 |
|
|
1,050 |
|
|
940 |
|
|
920 |
|
|
900 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
PLATINUM |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
21,000 |
16,000 |
6,000 |
-5,000 |
-7,000 |
-9,000 |
|
Profit or loss in €² |
18,463 |
14,067 |
5,275 |
-4,396 |
-6,154 |
-7,913 |
|
Profit or loss in £² |
15,691 |
11,955 |
4,483 |
-3,736 |
-5,230 |
-6,725 |
|
Profit or loss in C$² |
29,075 |
22,152 |
8,307 |
-6,923 |
-9,692 |
-12,461 |
1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 11:55 (GMT+1) 29/04/2025
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than the suggested one.
- Trailing stop techniques could protect the profit.