Any shifts in supply and demand will have daily, if not up to the minute, impact on the spot price of platinum. Gold Price vs Stock Market. This is the change in the price of the metals from the price at the end of the previous trading session. The ask price is the lowest price someone is willing to sell an ounce of platinum. Among PGM markets, Aberdeen Standard Investment runs the biggest platinum-backed ETF in the world with assets under management valued at $765.2 million. The great majority of futures contracts are offset prior to the delivery date. The spot price of platinum is an important benchmark for the platinum bullion industry. The spot price for platinum is determined from trading activity on Over-The-Counter (OTC) decentralized markets. Closes Non-Brokered Private Placement with Largest Shareholder, US stocks waver as investors mull dwindling chances for near-term stimulus, One technical indicator signals bitcoin can lose steam after 10% PayPal rally, Wells Fargo plans to sell its asset management business for over $3 billion after posting 57% drop in 3rd-quarter profit, report says. There is usually a difference between the spot price of platinum and the future contract prices. "trendLineColor": "#37a6ef", A troy ounce is used specifically in the weighing and pricing of precious metals and its use dates back to the Roman Empire when currencies were valued in weight. Related Charts. If it is January 17 at 6:30 PM and the price is $1,002, we will show a change of +2.00. "displayName": "Gram" Platinum was once the most expensive of the precious metals traded, maxing out at 1,000 US dollars per troy ounce. Whether buying, selling or trading, keeping up with the spot price of platinum helps a consumer make a transaction when the time is right. "colorTheme": "light", agree to our. or 7.98% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. These benchmarks are calculated partly from trading activity in the spot market. "displayName": "Troy Ounce" The spot market is trading very close to 24 hours a day as there is almost always a location somewhere in the world that is actively taking orders. Wyckoff, Brent Cookâs top gold stock picks, and top risks to flag, These are the top mining stock picks and top risks to watch from Brent Cook. If the spot price is high, you could consider selling and if it’s low you may want to buy. The difference is determined by the number of days to the delivery contract date, prevailing interest rates, and the strength of the market demand for immediate physical delivery. "name": "Commodities", "isTransparent": false, Is the Spot Platinum Price the Price I Pay When I Buy from a Dealer? They also provide speculators with an opportunity to participate in the markets by lodging exchange required margin. It is not an exchange. Platinum has seen some renewed demand because car companies have to meet tightening environmental conditions to reduce greenhouse gasses. Invest In Silver with the Right Investment Decision. "dateRange": "12m", Currently, the weekday closing time is 2:00 PM Eastern Time. Please enter your username/email and password to log in. Historically, Platinum reached an all time high of 2290 in March of 2008. It is an indicator for the entire precious metals industry and a standard used by dealers to set their premium prices in order to sell to consumers.
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