Platinum Bullion Price Charts
After taking a look at the price levels for platinum you’ll soon understand why investors looking to invest in precious metals have been adding platinum to their portfolio. Discover platinum bullion prices today and find out if this will be your next investment.
Platinum Bullion Bars
The Platinum price charts above feature Monex Spot Prices per ounce, which represent the midpoint between Monex bid and ask prices per ounce, for pure .9995 fine Platinum Bullion. Note that the 3-Month Live chart incorporates the latest Platinum Bullion price for the current trading day, while the 6-Month Candlestick, 1-Year Close, 5-Year Close and 10-Year Close charts incorporate the final closing Platinum Bullion price for the previous trading day.
Get Exclusive and
Monex offers our customers and prospective customers a wide selection of additional exclusive and customized charts (as well as other tools) not available to the general public. Located on restricted-access pages on the Monex website, these additional charts and tools are available via special links which will be sent to qualified recipients in special emails sent from Monex. Simply call a Monex Account Representative at the phone number listed at the top of this page to request access to these additional charts and tools.
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Why look to Platinum Price Charts?
Over time, platinum prices are recorded, compared and charted against time to suggest trends and overextended price moves. Besides the most current price of platinum, comparison to the previous day's final price and the 200-day moving average of final spot closing prices are frequently monitored.
What is the Price of Platinum?
Because platinum is both a highly utilized industrial metal and a monetary investment commodity, it can come in a wide variety of useful forms, qualities and delivery locations. As such, “platinum” actually has different price points at any one instant in time. Utilization forms of platinum, which has the element symbol Pt, include platinum bars, commercial plates, small ingots, platinum coins, wire, shot and powder.
Universally quoted prices for platinum assume the large commercially standard .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 as the spot price of platinum.
What Platinum Price Charts does Monex produce?
The platinum price charts above are for Monex Spot Platinum, which represent the midpoint between Monex bid and ask prices per ounce, for pure platinum bullion. The 3-Month Live chart incorporates the latest platinum prices for the current trading day, while the 6-Month Candlestick, 1-Year Close, 5-Year Close and 10-Year Close charts use just the final spot platinum price for the previous trading day. These charts are the widely accessible chart information available to all Monex customers and prospective customers, websites, competitors, researchers and government officials alike.
In addition, Monex is pleased to offer our customers and prospective customers a wide selection of other tools, including exclusive and customized charts not available to the general public. Located on special restricted-access web pages, these additional charts and tools are available via special links, which can be sent to qualified recipients in special emails sent from Monex. For access to these additional charts and tools, please call a Monex Account Representative.
What factors Influence the Price of Platinum?
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, versus demand from industrial uses, jewelry fabrication and investor acquisitions, are the driving force behind worldwide platinum prices. Most notably, the factors influencing the price of platinum are (a) the general strength or weakness in the precious metals sector as a whole, (b) variations in South Africa's mining output, (c) usage in the manufacturing of catalytic converters to reduce auto emissions, and (d) the prospects of increasing jewelry fabrication demand based on platinum's favorable relative value.
Where is Platinum mined in the World?
Incredibly, around 70% of the total mine supply of platinum comes from South Africa. It is quite unusual for a commodity to have over two-thirds of supply produced from one small country, so geopolitical factors in that region can present price volatility, risks and opportunities. For example, in 2014 there was a five-month labor strike followed by a sharp rebound in mining during 2015. Next, Russia is the world’s second largest platinum producer and about the same as all other areas combined. Therefore, the lion’s share of mining is from South Africa and Russia.
How Rare is Platinum?
In comparison to gold, which is quite scarce in its own right, platinum is over seven times rarer above ground, and in fact, in terms of increasing annual supply, as much as 16 times more scarce. As such, there are not the wide ranging stockpiles as would be expected from the other precious metals. For example, there is 40 times more gold than the amount of platinum metal eligible and available for delivery on the New York commodity exchange. Most intriguing is that few people realize that South African mining output was off one-fifth from what it was a decade ago, and that production could fall another 10% or so over the next 10 years.
What are the top five uses of Platinum?
The top-five uses for platinum are (1) as vehicle exhaust system autocatalyst for reducing pollutants, (2) as a chemical catalyst for industrial uses, (3) for jewelry fabrication, (4) in medical devices, and (5) as a monetary metal and as a precious and compact store of wealth for investing.
Is Platinum or Gold better?
Most would argue that platinum is better than gold. Platinum is more dense, meaning heavier per cubic inch, and it is far more scarce. It is widely perceived by the public to be more valuable, especially in jewelry. Furthermore, over time, platinum has been typically valued higher per ounce in the marketplace, especially in high-demand periods for precious metals. For example, when gold prices reach a high of about $1,800, platinum prices exceeded the $2,200 mark. That said, platinum is not the world's favorite monetary metal, and as such, gold has a great advantage in uncertain times like the present. That may explain why platinum has recently traded at a discount under gold.
What is the best Price Chart to compare Gold vs Platinum?
There are two ways to compare platinum to gold. Most mathematical is as a simple ratio of the spot price of platinum divided by the spot price of gold. [get the Monex Bullion investor mobile app for realtime ratio and historical charts] More visual is what traders look at, which is the dollar amount that platinum is trading above or below gold.
What is the Spot Price of Platinum?
The term “spot” was used to indicate the current rather than future price. Common practice of the metals industry is to publish a benchmark market value, which most universally is a particular day's final settlement price per ounce of the New York commodity futures exchange (NYMEX) “spot” month. At other times of the day, metals dealers assess world markets to infer what they believe to be a benchmark spot platinum price.
Monex publishes spot platinum prices along with quoted ask and bid prices of its platinum products, which have been an industry-respected price reference. If a dealer has two different spot prices, that suggests buying or selling spot bullion at ask and bid prices, and thus is not a precious metals industry commonly-used benchmark value for price comparison purposes. The Monex Live Spot Platinum Price for its 11-hour trading day can be found at our Live Prices page and by using the Monex Bullion Investor smartphone app available for both Apple and Android smartphones.
How is the Spot Platinum Price calculated?
Most universally, spot platinum prices are nominal values for industrial quality .9995 bullion plate, which is relative to the day's settlement price per ounce of the current month contract on the New York NYMEX futures exchange. A spot platinum price is calculated based on a virtual non-stop price discovery process using comparable platinum vehicles and the marketplace's relational valuation. For example, if the price per ounce of the current “spot” month is valued at ten dollars less than the NYMEX December futures contract price, then at a time when the December contract trades at $1,200, it suggests that the spot platinum price was $1,190 at that moment.
Prices of platinum bullion and platinum contracts are continually bid up and down by overall buyer demand and seller supply to where buyers and sellers are willing to engage in transactions. The Monex Spot Platinum Price is published here on the Live Prices page and is updated throughout the 11-hour Monex trading day. Monex shows one spot platinum price at any point in time, and it is the midpoint between its ask and bid prices for bullion.
How often do Spot Platinum Prices change?
In truth, platinum prices are continuously moving to some extent across markets. Monex monitors marketplace activities and adjusts its Ask, Bid and Spot prices as much as 50 times or more throughout its 11-hour trading day. In active market conditions when platinum can become extremely volatile, prices can change almost continuously for extended periods. The latest spot platinum price, with the day's high, low and change, are listed on the Live Prices page. Also, have platinum price changes constantly at hand using your mobile device and the Monex Bullion Investor smartphone app available for both Apple and Android smartphones.
Are Spot Platinum Prices the same all over the World?
Platinum is compact and efficient to transport relative to its value, and spot platinum values are generally similar in the major financial hubs of the world assuming an equivalent .9995 fine standard of refined purity. However, supply and demand dynamics in a particular geographic location can make a spot platinum price vary to some extent. Obviously, in a remote location or within a controlled economy, or with potentially unreliable currency exchange factors, platinum prices do not float freely.
Can I buy Platinum from Monex at the Platinum Spot Price?
Monex does not have two ask and bid prices to reflect a spot platinum price. Monex uses the common industry practice of referencing a nominal (not a quoted offer) spot price. If you are an investor who desires to purchase authentic investment grade platinum in quantity at very attractive prices, please refer to the Monex preferred bullion prices.
Are Platinum Prices volatile?
Platinum bullion prices can be quite volatile at times. Like gold, platinum is a commodity that trades freely and with great liquidity across the globe. Though platinum is generally more volatile than gold prices, platinum prices have historically been less volatile than silver prices and palladium prices.
How much does Monex charge above the Spot Platinum Price?
Monex does not sell platinum at spot. Monex makes a platinum market for buying and selling, which is quoted as Ask and Bid prices. Ask prices for platinum products reflect competitive marketplace conditions for a particular type of platinum investment item. There are, however, charges that accompany transactions, which include buy/sell charges, shipping or storage charges depending if the customer chooses home or depository delivery.
Also, a customer may choose to use financing, where there would be interest charges as well. Monex quotes extremely competitive Atlas Preferred Prices for platinum bullion depository delivery. Monex publishes buy/sell commission charges, which depend on the size of a transaction. For greater transparency, the Monex marketplace is quoted live online or through the powerful Monex Bullion Investor smartphone app available for both Apple and Android smartphones.
Does the Spot Platinum Price include Dealer Markup or Shipping Costs?
A spot price can't actually include anything at all. Spot is a reference price. In fact, a genuine spot price is truly not a quote at all, because it is not where dealers offer to buy or sell, which are their ask and bid prices. It is important to remember that dealers do not buy platinum products at spot.
Why aren’t Your final Platinum Prices listed on Your Website?
At Monex, with over 50 years of experience and hundreds of thousands of customers executing over $60 billion in physical precious metals transactions, you cannot have a “one-size-fits-all” attitude. To meet the requirements of each individual platinum investor on a specialized basis, you cannot average the platinum offerings to try to fit all. Monex endeavors to fulfill the requirements of each customer on an efficient basis for the benefit of the customer and the customer's overall market pricing advantage.
Why is the Monex Spot Platinum Price different than other Companies’ Prices?
Monex, as America's oldest dealer specializing in a reliable two-way precious metals market with its billion-dollar volume of business, offers an extremely competitive and reliable marketplace for precious metals investment transactions. Please see the Monex Atlas Preferred Prices for pricing relating to the longstanding depository delivery services it offers. Monex believes it is best to offer transparent market pricing as quoted in Ask and Bid terms, and referencing its midpoint as a spot nominal price, which may be less than what other companies use as spot prices. Over the years, Monex spot prices have tracked the COMEX and NYMEX spot prices for precious metals almost perfectly. In fact, the correlation of those prices is available for review in our company brochures and on our website.
Why have Platinum Prices been dropping in Recent Years?
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. For the most part, it seems that America's stock market is in a bubble advancement phase, and few investors wish to exit the train until it shows them signs of failure. This presents a less-bullish scenario for alternative investments such as the metals complex, and it puts downward pressure on platinum prices.
Monex is pleased to offer our customers and prospective customers a wide selection of additional charts and other tools, including exclusive and customized charts not available to the general public. These additional charts and tools, located on special restricted-access pages on the Monex website, are available via special links which are sent to qualified recipients in special emails from Monex. Please contact a Monex Account Representative at the phone number listed at the top of this page to request access to these additional charts and tools.