From an update on the reference article: Platinum group metals, a story of scarcity and industrial needs
After another failed recovery, Platinum permanently slid below $1100 on June 04 and further slid below $1000 since July 17. With Platinum plunging to a new post 2009 low at $931 on Sep 23, 2015, the Gold to Platinum ratio (GPR) is escalating, now peaking at 1.20.
The actual divergence between platinum and palladium is striking, with the latter rising, which seemingly also is provoking a short squeeze. The speculators' take on the falsification of emission test results for diesel engines by VW is to short platinum (used as catalysor for these engines) and go long palladium (only used as catalysor in gasoline engines).
The Palladium surges completely undoes the former Palladium slide, which brought the grey metal down to $530 on Aug 26, less than a month ago. Yesterday's surge adds to a completing recovery with Pd now at $648, the highest price level since the precious metal slide started aggravating by mid July.