Platinum has been up for four days in a row, gaining $2 to reach $1,048.

Published: January 25 2023, 23:11 GMT+0

Platinum has been up for four days in a row, gaining $2 to reach $1,048.

Marginally higher but lacking a clear-cut direction, Platinum is trading at $1,048 per troy ounce after ranging between $1,046.5 and $1,048.2 today.

Nevertheless, United States Crude Oil Inventories published today at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure.

At the same time, United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released today at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Rallies can also be seen in other Metals, having closed the previous session at $1,942.6, Gold is up 0.25% today to currently trade at around $1,947.4.

At the same time, Palladium closed at $1,689 (down 2.68%).

Furthermore, the market is looking at tomorrow at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%. As things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 2.6, following on from the preceding figure of 3.2. New data is set to be published tomorrow at 13:30 UTC. United States Initial Jobless Claims expected to decline to 205,000 while its preceding data was 190,000, data will be available tomorrow at 13:30 UTC.

The Platinum future hit a significant low of $805.5 around 4 months ago, but has since recovered 29.87%.

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