While the Gold Trust SPDR (GLD) pulled back rather sharply in 2011, the Platinum ETN (PGM) held strong and recorded a new 52—week high this week. Platinum was lagging gold until from early August until late November. The PGM:GLD ratio bottomed at the end of November and moved sharply higher in 2011. This could have something to do with the rebound in auto stocks (catalytic converters).
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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