PLAT Platinum Weekly Chart; Platinum at 2-Year Low

Precious metals pull back last week as the US dollar index rises above 94 now at 93.90. Platinum collapses -6.1% to 883 at levels not seen since February 2016. Platinum is one of the least reactive metals and is corrosion resistant making it an ideal choice for catalytic converters for cars, buses and trucks. The ladies love the platinum jewelry as well.

If 'Peak Auto' is occurring, platinum will be hit and it does drop more than gold and silver last week, that dropped -2.6% and -3.5%, respectively, hinting that part of the platinum drop is due to projected weakness ahead in the car industry. The automobile and housing industries are the two key drivers of economic strength. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.