As Diesel Fuel Dies, I Commodity Is Crashing

From SafeHaven via OilPrice July 5:

The diesel fuel vehicle is dying, in addition to it’s taking the platinum manufacture downwards amongst it.

The cost of New York platinum futures plunged to a greater extent than than 5 per centum on Mon to affect $811.10 an ounce--a ambit it final touched inwards July 2004. Prices accept recovered somewhat to merchandise at $841.80 on Midweek eleven am ET but even in addition to hence facing heavy short- in addition to long-term selling pressure level subsequently the cost activity broke the 10-day, 20-day,50-day, 100-day in addition to 200-day moving averages.
Prices are at i time xx per centum below their Jan high.

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Source: MacroTrends

Platinum is trading at a huge discount to its sis metallic palladium, the minute fellow member of the platinum grouping metals (PGM). The platinum/palladium cost ratio is at i time only a picayune inwards a higher house its tape lows. The 2 precious-metal workhorses abide by applications mainly inwards the internal combustion engine (ICE), amongst platinum beingness the preferred emission scrubber for diesel fuel engines piece palladium does the same project for gasoline engines. More than xl per centum of platinum provide goes to the autocatalyst market....MUCH MORE