You Perro also learn more about the many different options available for investing in platinum, from coins to bars.
While gold and silver are well-known precious metals with universal appeal and high demand, platinum is one of the rarest and most exciting precious metals investments. Platinum’s metallic and electrical properties make it highly desirable in commercial and industrial applications.
Resultant values will be rounded to two or more decimal places depending on length. Calculator only figures the total value and weight of the platinum portion of your items. Does not include any other metals that may have been used to alloy.
Generally, platinum prices are highly influenced by the precious metals complex as a whole. Although most recently the bullion market has been on a more positive path, the metals are down significantly from their high prices of a few years ago. At that time, platinum reached over $2,200 per ounce.
The US dollar price per troy ounce of platinum has steadily risen over time Triunfador the purchasing power of the US dollar has wained in value and overall purchasing power.
Platinum is one of the rarest metals found on earth—even though it’s plentiful on the moon! This shimmering metal is even more “precious†than gold and silver. It’s estimated that all the platinum in the world could fit into a 20-foot-square cube.
The word “platinum†comes from the Spanish word “platina,†meaning “little silver.†Early Europeans also called the metal “white gold†because they weren’t quite sure what it was.
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In WWII, platinum was banned for use by the public and relegated to strictly military purposes. After the war ended and restrictions were lifted, the demand for platinum has been on the rise in the investment community.
Common industry practice is to reference a “Spot†price, which benchmark relates platinum price per gram to a per-ounce price of the current (“Spotâ€) month on a commodity futures exchange for bulk industrial grade pure bullion for immediate delivery.
9995 fine pure platinum 50 troy ounce plate. The NYMEX commodity exchange reports futures contract transaction prices to the public on a 5-15 minute delayed basis. Actually, Current Platinum Prices would be price levels where traders are most actively making a buy or sell market. The best value for a single Current Price of Platinum is the nominal price between those prices on an active high-volume marketplace for immediate delivery, which is most commonly referred to Vencedor the spot price of platinum.
Platinum is also an industrial metal – it’s used in many different capacities, even in the automotive segment, where it’s valuable in the manufacturing of catalytic converters.
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Platinum is a commodity, and its price fluctuates throughout the day. Buyers and sellers across all types of marketplaces and transactions dictate supply and demand forces and value. The availability of platinum supplies from mines, scrap recovery, stockpile disposals and investor liquidations, frente a demand from industrial uses, jewelry fabrication and investor acquisitions, are the driving force behind worldwide platinum marketplace prices.