Platinum Spot Price

What is spot price of platinum?

The platinum spot price is the price of platinum available for delivery now. Platinum is priced by the troy ounce, which has been the standard weight for precious metals since the 1800s in the US and much longer elsewhere in the world. The spot price of platinum is influenced by several factors including the state of the economy, political events, strength of various currencies, and many other macroeconomic factors. Spot prices are used as reference points for dealers to calculate the price they should charge for physical platinum bullion coins, rounds and bars.

All of the products on our website are priced based on a premium to spot price; therefore, you will notice that prices update every few seconds during market hours. This allows customers to invest based on the most up to date market conditions possible.

Platinum as an investment

Over the past decade or so platinum prices have increased overall, catching the attention of many investors. Many people look to precious metals such as platinum to help protect themselves against the devaluation of the dollar and fluctuations in the stock market. Platinum, gold, and silver are seen as safe havens of a sort in times of financial and political turmoil.

Platinum is available for investment in many different forms including paper platinum and platinum bullion. Physical platinum bullion is most commonly found in coin, round and bar form with several size options for each. Some investors enjoy owning government minted coins while others prefer paying lower premiums for bullion bars and rounds. In any case, there are a vast amount of options available in terms of this investment vehicle.

Aside from bullion, “paper platinum” is also available in the form of ETFs and certificates. These options are different from physical platinum bullion in the sense that the owner never actually gets to hold the platinum in their hands. A platinum ETF or certificate is basically a piece of paper that says a bank or financial institution is holding a specified amount of platinum for you without you ever seeing that metal.

Frequently Asked Questions

Platinum is traded across multiple time zones and on multiple exchanges such as New York, Hong Kong, Zurich, and Sydney. The platinum spot price is calculated using the most active near month futures contract. This near month futures contract will not always be the front-month contract, but rather the near month contract with the most trading volume. Platinum trades nearly around the clock these days, and like many other commodities, is always in the process of price discovery around the globe.

The spot price of platinum is quoted as the price for one troy ounce of platinum in U.S. dollars (USD).

Platinum prices are typically quoted in U.S. dollars (USD) per troy ounce. As with most commodities, platinum is usually quoted in USD, but prices may be converted to any local currency. For example, if one is located in the UK, they could simply take a current price of $1480 USD per ounce and convert that $1480 USD to British Pound Sterling (GBP) at current exchange rates to come up with the local currency price per ounce in England.

The price of platinum is constantly changing based on market supply and demand, currency movements and other factors. The platinum spot price updates every few seconds during market hours. Between domestic and foreign exchanges, spot platinum prices update Sunday through Friday, from 6:00 PM EST to 5:15 PM EST each day. Spot prices remain static during that 45 minutes down period from 5:15 PM EST to 6:00 PM EST each weekday, as well as from 5:15 PM EST on Friday until 6:00 PM EST on Sunday. The price of platinum is in a constant state of discovery and can have extremely volatile periods.

Many economic factors affect the price of platinum, including interest rates, macro-economic trends, indexes like as the Dow Jones Industrial Average, monetary and fiscal policy, foreign relations, and more.

Bids represent an offer to buy, while Asks represent an offer to sell. If you are looking to buy platinum, you would pay the Ask price, while if you are looking to sell platinum, you would receive the Bid price. The Ask is always higher than the Bid, and the spread between the two prices is known as the bid-ask spread, which is a reliable measure of liquidity in any traded product. The general rule is the smaller the bid-ask spread is, the more liquid the asset is.

Yes — the price of platinum is the same all over the world. Exchanges and markets can take the current spot platinum price in USD and convert the price to local currency.

Commodities are obviously very widely traded vehicles for end-users, financial institutions and banks, as well as retail investors. With the pace of economic activity and commerce in modern society, it is important that market participants have access to markets where they have financial interests or price risk exposure.

Platinum and other metals are sold by dealers with a premium to the current spot price. When one is looking to sell metals to a dealer, the dealer may offer the current spot price or slightly below the spot price for one’s metals. The dealer premium, as it is often called, represents the price at which a dealer will buy platinum or other metals and the price at which a dealer will sell platinum or other metals. The difference between the spread represents the dealer’s gross profit.

No, the dealer will use the spot platinum price as a guide. The dealer will take into account current spot prices, as well as their cost on the coin or bullion, and then apply their markup. Dealer markups can range quite a bit. For some products, margins are razor-thin while for other products the dealer stands to make a larger profit.

No. Dealers often times have to buy products above the current spot price. They then look to resell them at a higher price to turn a profit. The amount of money that a platinum coin or bar may sell for above the spot price may be determined by supply and demand, scarcity and product condition.

Any investment carries with it the risk of loss. The price of platinum could go lower just as easily as it could go higher. When one buys an American Platinum Eagle, for example, the value of the coin may go up based on rising platinum prices, but it can also go up on rising coin premiums. That being said, coin premiums can also fall. The bottom line is, if one is looking to acquire platinum or precious metals, then paying dealer premiums is part of the equation that must be considered.

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