Platinum Price Forecast – Dollar Breakout Signals Deeper Platinum Correction
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Key Points:
- Platinum remains under pressure as the US dollar breaks higher and Treasury yields continue to rise.
- A break below key support could push platinum prices toward deeper support zones in the short term.
- The ratios between platinum and gold suggest more short-term weakness in platinum.
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The US dollar index has broken the key level of 100.50 while the US Treasury yields continue to climb within the bullish trend. This upside breakout in the US dollar and bullish patterns in the US Treasury yields continue to pressure the platinum (XPL) prices in the short term. In my view, this correction is pushing the metals into the next buy zones where the strong rally may develop. This article presents the key macro drivers, technical levels for platinum prices, ratio signals and the long-term support zones that could shape the next major move in platinum prices.