Platinum, may soon reach $1,662/oz, according to technical analysis by Commerzbank AG.

"Our short- and medium-term forecast has reverted to bullish now that last week's $1,614.50 peak has been surpassed," Axel Rudolph, a technical strategist at Commerzbank in London, said in a report yesterday. "Platinum continues to grind higher towards the $1,648/$1,662 resistance zone."