NEW YORK (Scrap Register): INTL FCStone remained bullish on gold and silver and suspects that each will continue to move higher during February mainly due to two variables -- the continued weakness the firm expects in the U.S. dollar, coupled with geopolitical developments involving Iran and Ukraine. 
According to INTL FCStone, the standoff with Iran is the most problematic, since if tensions continued to escalate, it is quite possible that one side or the other could pull out of the nuclear accords, in which case we could see an immediate spike in gold.
In addition, approaching French elections in April/May should also provide gold with a measure of support given that the leading center-right candidate has faded in the polls, opening up a slightly clearer path for Marine LePen, who just this weekend said she would pull out of the EU and NATO if she gets in.
“We are less upbeat on platinum and palladium. Although we thing each could move somewhat higher over the course of February, the slight deceleration we see in the most recent U.S. auto sales data, coupled with a sharper-than-expected slowdown in Chinese auto sales this year, could cause problems for both metals going forward,” said analysts at INTL FCStone.
Platinum purchases in the European auto-catalyst industry are expected to dip as lower platinum-loaded catalyst systems are introduced in increasing numbers.