It is very unusual for gold to trade higher than platinum, so when an inversion happens it can be an opportunity to put on gold shorts and platinum longs. In the “risk-off” trade of recent months, industrial metal platinum has lagged safe haven gold. At the last market bottom in early October, the ratio reached 1.125, when platinum was trading in the $1450 range and gold held around $1600. As stocks and risk assets have rallied since then, the ratio has come off a bit, but still remains high at 1.08 (Tues close):