Charts & Prices
Platinum Price Chart
Platinum Price Chart
How to Use a Platinum Price Chart
Use U.S. Money Reserve's platinum price chart to compare the price of platinum over a specific period. The amount of time is up to you. You can review platinum prices from 1980 to 2008, or over the last 5 days, 1 month, 1 year, 5 years, or 10 years.
A platinum price chart can help you identify platinum price trends and figure out when is the right time to buy platinum for you. As market analysts are prone to say, “A trend is your friend!” But how do you identify a trend?
Start by looking for peaks and valleys in platinum prices during the selected period. Do you see a pattern? You might notice a spike in platinum prices in late November every four years (around the U.S. presidential election), or a dip when stock prices skyrocket. Identifying historical market trends doesn't necessarily mean platinum prices will perform the exact same way in the future, but trends and patterns could give you insight into what might happen and when you should act.
Understanding the Spot Price of Platinum
To use this platinum price chart, and many others, it's important to understand platinum spot prices. Note that the chart doesn't track the price of platinum coins or bars. Instead, it reports the spot price of platinum, which is the market price at which platinum is bought or sold for immediate payment and delivery. It's the price you'd pay “on-the-spot.”
The spot price refers to the price for one troy ounce of platinum and is typically quoted in U.S. dollars. A troy ounce is a standard unit of measurement for precious metals. One troy ounce is exactly 31.1034768 grams (1.097142857143 oz.), but you’ll often see platinum prices listed as $/oz. without mentioning “troy.”
The spot price of platinum does not account for any other costs associated with the design, manufacture, or sale of a platinum coin or bar, including costs like shipping or insurance. Spot prices also do not take into account the demand for certain platinum products and their numismatic value.
What Drives the Price of Platinum?
The price of platinum changes daily, as do the influencing price factors. Like most other assets, platinum prices can shift for many different financial reasons. If you’re not tracking platinum prices, changes in interest rates, inflation predictions, and stock market movements could all potentially catch you off guard.
A primary price driver is platinum supply and demand, and accordingly, global income growth.
As global incomes increase, so can demand for platinum jewelry and technology that includes platinum, like smartphones, tablets, and computers. Income growth also encourages savings, which helps boost the demand for platinum bullion coins and platinum bars.
When demand is high and supply is limited, the purchase price of platinum coins and bars tend to increase. It's basic supply and demand.
The strength of the U.S. dollar can also influence platinum prices. The two generally have an inverse relationship. A strong dollar can sometimes discourage platinum buyers, as platinum becomes more expensive to purchase. When the dollar is weak, platinum is cheaper to purchase in other currencies.
Changes in the number of platinum buyers can also impact platinum prices. Transparency, efficiency, and policy changes are broadening access to platinum buyers everywhere. Fewer barriers to buying platinum can mean increased demand, and accordingly, increased platinum prices.
Learn More About the Platinum Price Today
There may never be a better time to start diversifying your assets with physical platinum. Increases in global income, more serious geopolitical tensions, and fewer barriers to buying platinum could all impact the platinum price chart you see here.
Whether you're looking to understand platinum prices better before you buy platinum, or you want to keep tabs on your current precious metals portfolio, our experienced Account Executives can help. Call 1-844-307-1589 to learn more about platinum prices today and the platinum products that may best fit your financial goals.
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