Platinum has risen sharply overnight and in turn the October platinum contract reached the highest price levels since May 2nd. In spite of an August low to high rally of $200 an ounce, October platinum remains $15 an ounce below its 2011 highs as well as a surprising $433 an ounce below the 2008 highs! With platinum versus gold this morning, at a mere premium of $7 an ounce this morning, some players think that platinum remains cheap into the Friday US trade. Some traders feel that platinum has become a safe haven instrument that may need ongoing market anxiety, but with negative news headlines on Euro zone and the US thought to be falling back into recession, they feel the biggest threat to platinum could be a shift back toward deflation. German PPI during July was up 5.8% year-on-year, higher than market expectations and may indicate stronger industrial platinum demand from German automakers through the rest of this year.