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What is spot for platinum
WHAT IS PLATINUM SPOT? The spot price for platinum describes the price of rare metals with immediate delivery. Trades in bullion coins are almost always quoted based on the spot rate.
How many ounces in a platinum spot price
Usually Americans refer to ounces, they often refer to avoirdupois ounces. The spot price for platinum is calculated in troy ounces, which is exactly 0.09711 ounces. One troy ounce is equal to 31.1035 grams.
What influences the spot price of platinum
The price of platinum usually reflects the forces associated with supply and demand in the silver market. Both options affect the overall level of available demand (from automakers, jewelers and platinum investors) as well as available metal stocks.
What is platinum and how do you buy it
Platinum is almost impossible to buy and buy physically. However, investors can buy exchange-traded sources (ETFs) that specialize in a commodity. In addition to being a rare and expensive metal, it is in high demand for use in automotive components, electrical circuits, and even some medical applications.
How much is 1 oz of platinum worth
$936.75
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Why is platinum so cheap
Platinum is in short supply, driving prices up
Since mining has stopped, supply in the platinum market has been limited. In other words, the alternative demand for silver exceeds the available supply of the precious metal. In the first quarter of 2021, the demand for metal increased by 26%.
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