Europe Economy

Charts: Platinum Prices Could Jump 30%

Investors should ditch gold for platinum as the industrial metal has the potential to rise 30 percent from current levels, Chris Zwermann, global strategist at Zwermann Financial, told CNBC Wednesday.

Charts: Platinum Prices Could Jump 30%

"On my yearly outlook I suggested to change a bit from gold into platinum because I think it has more dynamic to the upside," Zwermann said.

If the price of platinum reaches $1,700 per troy ounce from its current price of $1,638, then it would have only have retraced 61.8 percent from its lows in late 2008, Zwermann pointed out.

"Gold is already at new highs so we have space compared (for around) about 30 percent gain from here on," he said.

- Watch the video above to see Zwermann's view on the SMI, DAX and euro versus Australian dollar.

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