Keep track of any changes in the spot price of a troy ounce of platinum right here on this page. We log any changes that occur daily as well as values going far back into the past for your research purposes.
Below this are four data pieces: the normal platinum price chart, a historical platinum performance chart, a historical annual performance chart, and finally a table for the spot price of all precious metals we sell.
The precious metals market may seem intimidating, but it’s not as it seems. Our team has worked hard to create a short and digestible guide so that you can learn how to make the best decisions for your future.
The Oxford Gold Group’s live platinum chart gives you direct access to the platinum spot price in real time. The chart updates instantly for your convenience, and you can view historical data to study platinum price trends. Using these live prices as a reference for buying bullion, such as platinum coins and bars, helps keep your finger on the market’s pulse.
Whether you’re a veteran or novice investor, contact Oxford Gold Group at 833-600-4653 to learn more about the benefits of converting your retirement account into silver, gold, or other precious metals.
Platinum prices constantly fluctuate in response to various influences, such as supply and demand, investor sentiments, and geopolitical issues. If you want to find out the current spot price of platinum bullion, you can track it using our live platinum price chart. Besides real-time tracking, the platinum price chart allows you to see daily, weekly, or monthly prices.
Platinum is exceedingly rare and difficult to mine, significantly affecting its supply. Despite its scarcity, platinum is in high demand across several industries. Its largest market is the automotive industry. Car manufacturers use platinum to make catalytic converters, an essential part of reducing motor vehicle emissions.
Platinum is also massively popular for jewelry because of its luster and durability. Other industrial uses include medical equipment and electronics. Platinum prices react to changes in these industries, though not to the same extent as in automobile manufacturing.
Platinum prices respond most dramatically to changes in supply and demand. The mines that produce platinum only exist in a few countries, with the top producer being South Africa. This country has historically struggled with electricity, water, and labor availability. Such geopolitical factors have a considerable impact on platinum prices.
The demand for platinum from auto manufacturers, jewelry sellers, and other industries also affects platinum prices. For example, prices have risen because of the increasing sales of platinum jewelry in China and India.
The spot price refers to the current price at which one troy ounce of platinum is delivered in U.S. dollars. It’s the basis that precious metal dealers use to set their product prices. The spot price of various commodities depends on geopolitical events, currency values, and market speculation.
The platinum spot price comes primarily from futures contracts. When buying and selling platinum bullion, dealers typically trade in futures because the commodity is so rare. The dealer determines the price at which to buy and sell fine platinum bullion by making educated guesses regarding the future price of platinum.
Platinum spot prices typically appear in U.S. dollar amounts, but live platinum prices can be converted directly into other currencies. You can trade platinum in many countries besides the United States, and the spot platinum price is the same everywhere.
Platinum prices are lower when there’s a surplus, such as when China releases a significant amount of its platinum storage or mining companies increase production. Because platinum is so rare, its supply will likely falter again, thus inflating prices. Its uses in car manufacturing, jewelry, and investing keep demand for platinum steady.
The first step is deciding which platinum product you wish to buy, which depends on your budget and goals. Your Oxford Gold Group partner will lock in a price and discuss funding. When the funds are in your account, we’ll package and ship the metals to your home.
The types of physical platinum products you can purchase include coins and bars, but you can also transfer your retirement account into precious metals. Through your self-directed account, you’ll choose platinum products to purchase with your funds, after which we’ll ship them to your depository for inspection and safekeeping.
A troy ounce is the standardized unit of measure for precious metals. The ounce most people are familiar with is technically known as the “avoirdupois” ounce, which is a little lighter than a troy ounce. Whereas a regular ounce is 28.35 grams, a troy ounce is 31.3 grams.
If you come across a seller who lists the weight of their metals in regular ounces, you can multiply the number by 0.91 to get the troy measurement. Becoming familiar with troy ounces is essential to participating safely in the precious metals market.
The bid price is the highest price someone is willing to pay, while the ask price is the sell offer. The bid price is always lower than the ask, and the difference between them is the bid-ask spread. The smaller the spread, the more liquid the asset.
Platinum and gold prices follow similar trends, but platinum prices have fallen short of gold in recent years. Platinum has higher price volatility, making it a riskier investment for beginners. However, platinum’s rarity and widespread industrial uses make it one of the most valuable precious metals.
Investors have shown mounting interest in platinum investment because of the demand from car manufacturers and other industries that use it for their products. Precious metals have always been popular as a hedge against economic risks and stocks, but platinum has significant investment potential.
As a rare metal with a complex refining process, platinum is much harder to come by than any other metal. However, the demand remains stable or rises depending on the industries that use it. Investors can also depend on the face value if they need to sell platinum. For example, the American platinum coin is worth $100 in U.S. currency.
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