After three days of declines, CME Platinum is up $2.7 today

Published: May 26 2023, 21:40 GMT+0

After three days of declines, CME Platinum is up $2.7 today

After closing at $1,026.3 yesterday, Platinum began today at $1,027 with significant bullish sentiment driving Platinum's price action higher. So far today, price action has drawn out a distinct $1,024.6 to $1,040 range.

On the flip side, Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

At the same time, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

This rally in the Platinum future's price coincides with other Metals as having closed the previous session at $3.59, Copper is up 2.33% today to currently trade at around $3.67. Silver rallies 2.34% to trade around $23.45.

Approximately a month ago, Platinum reached a significant high of $1,141.5 but has struggled to hold onto its gains and declined 10.09% since then.