Platinum isn't "super cheap" like we pointed out in February, but it's in a bull market.Platinum is an odd bird in the commodities complex. It has precious-metal attributes like gold, which means people use it as a store of wealth and for jewelry. It also has industrial-metal attributes like copper. Industry uses it to make catalytic converters for autos. Naturally, industry insiders expect Chinese platinum consumption to soar in the next decade as the country grows wealthier.
Platinum suffered a brutal decline from $2,200 an ounce to $800 late last year. But as you can see from today's chart, it's enjoying textbook bull market action of "higher highs and higher lows" off its bottom.
Keep platinum on your trading list... If we experience an inflationary boom, platinum will benefit from a flight to precious metals... and it will benefit from increased industrial activity. These two factors spell higher prices for platinum.
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