“Precious metals have continued to climb even after the Federal Reserve raised borrowing costs in December for the third time in 2017 as traders sought a store of value. The dollar is trading near a three-year low against a basket of 10 currencies,” according to Bloomberg.

Commodities are denominated in dollars, meaning a weak greenback often triggers higher commodities prices. Data confirm professional speculators are bullish on platinum.

“In the week ended Jan. 16, money managers raised their net-long position, or the difference between bets on a price increase and wagers on a decline, by 79 percent to 19,806 futures and options, according to U.S. Commodity Futures Trading Commission data released Friday. That’s the highest since mid-September,” reports Bloomberg.

For more news on Precious Metals ETFs, visit our Precious Metals category.