Platinum is one of those "other" Precious Metals that is often overlooked and rarely talked about by mainstream pundits. It has a few industrial uses like Silver so it has some different fundamentals to the more common Monetary Metals, but it's still precious and shiny and if you're a stacker you probably either have some (or want some) in your stack. Recently Platinum has been making a few heads turn in the alt-media space and if you have a look at the chart below you'll see why.
Source
That's a good looking chart if you have some of your capital invested in Platinum. This is a one hourly chart so you can see that it's been in a strong uptrend this month and is up over 20% in just the last 9 days. It's very hard to know why Platinum is making such a big move. Maybe it's playing catch up to Gold because Silver has been doing well over this period too. There are some voices which claim this is related to auto industry speculation (Platinum is used for Catalytic Converters in cars) but I'm not really buying that story.
I do find it difficult to do any kind of reliable Technical Analysis on the Platinum chart because it is not as liquid or sentiment dependent as Gold, but I am left wondering if it might be due for a consolidation. I would consider the Platinum price to be currently Overbought, however if it really IS a catch-up move next to Gold then it could easily have a lot more room to run. Especially since I think Gold is looking like it's about to make another decent move higher.