About Platinum and Platinum Trading
Why is platinum so popular?
Platinum is a very popular metal due to its rarity. Most of the world's platinum is produced in South Africa (80% of the total supply). Russia and North America also store important quantities of platinum.
Platinum is known for its high resistance to corrosion and for its role as a catalytic converter, making it suitable for laboratory purposes and industrial uses.
What is platinum priced in?
Platinum is priced in U.S Dollars per troy ounce. Its highest level was recorded in March 2008 - $2.253, while its lowest level was hit in January 1970 - $97.70.
Because most of the platinum resources can be found in one area (South Africa), prices are known to experience important swings. For this reason, platinum is one of the most volatile The white silver metal known as platinum is the heaviest of the precious metals.
Can you trade platinum?
You can trade platinum futures on the CME's COMEX futures exchange (under symbol PL) and various other exchanges. Alternatively, you can trade platinum in the form of CFDs.
Is platinum a good investment?
Platinum is regarded as a long-term portfolio diversifier. Throughout history, platinum has tended to be more expensive than gold and is generally considered to be the most valuable metal of all due to its rarity.
Is platinum a store of value?
Due to its scarcity and its high cost of production, platinum cannot be efficiently used as a store of value. However, this metal has been highly regarded for hundreds of years.
How do platinum prices change?
Supply and demand dictate the prices for platinum. During periods of sustained economic stability and growth, prices surge. During periods of economic uncertainty, prices fall because of reduced demand.
What is so special about platinum?
Platinum is the heaviest of the precious metals, weighing almost twice as much as karat gold. Because it combines well with gold, platinum is widely used in the art of crafting fine jewelry.