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- Higher inflation outlook helping to push up demand for precious metals
- Precious metals are viewed as an asset to hedge against inflation
- Platinum prices also have the support of potential improved global economic conditions which could drive up demand for platinum for industrial use
- Current price testing the $1,026 resistance a break above opens up the prospects for a push towards the $1,120 extension, downside support spotted near $880
Source: FXGM Investment Research Department / Bloomberg