Platinum vs Gold: Is the Capital Rotation About to Begin?
Platinum is showing early signs of recovery while gold loses momentum, with ratio charts, improving demand, and strong technical structure pointing to a potential catch-up phase as gold remains the dominant macro hedge.
Platinum (XPL) is starting to show signs of life after years of underperformance while gold (XAU) is losing momentum after its extended rally in 2025. A shift may be building beneath the surface as key ratio levels and technical structures begin to turn. In my view, this could mark early stage of major rotation within precious metals where platinum starts to catch up. The question now is whether this move can develop into a sustained trend. This article presents macro drivers, ratio signals and technical structures behind this potential rotation.