Platinum Spot Price Charts

Platinum, one of Earth’s rarest and most versatile precious metals, plays a vital role in industries worldwide and holds significant investment potential. Whether you’re an investor tracking market trends or simply curious about its value, this page provides up-to-date information on the current spot price of platinum.

What is the Spot Price of Platinum?

When it comes to the spot price of platinum, two definitions are in play. For most people, the spot price of platinum represents the market price for purchasing one troy ounce of platinum.

However, the price is derived from platinum futures contracts for immediate delivery, which are traded multiple times daily on the Commodity Exchange (COMEX) and serve as the foundation for most platinum transactions.

Our real-time platinum price chart provides today’s rate and 24-hour access to the current price of 1 oz, 1 gram and 1 kilo of platinum. You can also use it to look back historically across any timeframe. Use this chart in combination with our gold spot price and silver spot price to see how the markets are trending.

Factors That Influence the Platinum Price

Traders aren’t just making up the spot price for platinum at random. The forces of supply and demand affect the market price for platinum as much as they do any other product.

We’ve already intimated one of the factors that can influence demand. As industry production in those fields increases, so does the demand for platinum. New technological advances may further increase industrial demand, or – possibly – decrease it dramatically. So, it’s important to keep an eye on platinum-using industries if you plan on making platinum part of your portfolio.

Another factor that can influence the platinum price – on the supply side this time – is political or geopolitical changes in top platinum-producing countries. Changes in policy in places like South Africa, Russia, or even the United States can expand or constrict the amount of platinum mined and/or exported.

Finally, the economic conditions both in-country and worldwide can influence the price of platinum. Generally, platinum moves inversely with the economy. However, be aware that this effect, in comparison to the economy’s inverse relationship with gold, is much more muted for platinum.

Platinum as an Investment

Platinum is an excellent investment for several different reasons. You may be able to guess at some of them, but others are specific to investing in platinum.

Platinum offers a tangible store of value, regardless of your location in the world. Although lesser known, it is nonetheless universally recognized for its perpetual status as an object of worth.

Platinum also offers a safe haven from inflation for investors, as do gold and silver. Resting the value of your net worth in a tangible object helps you to avoid the ebbs and flows of fiat currency.

Finally, platinum can offer an option for more risk-tolerant investors. Its price is lower than that of gold, requiring less commitment, but it undergoes significant volatility on a daily, weekly, monthly, and yearly basis. You can quickly pick up some short-term gains if you are a savvy platinum trader.

Key Metrics for Platinum Investors

The first thing to check if you’re planning to invest in platinum is, obviously, the spot price. You need to get a solid understanding of the range of prices both historically and in more recent years (say, from 2020 onward).

You should also take the time to get a handle on the volatility of platinum before you buy. Because platinum is traded so much less frequently, it can fluctuate more dramatically than gold. Thus, if you can capture both the recent volatility of platinum and compare it to the long-term volatility, you might be able to get a better idea about how choppy the market’s waves are.

Finally, the gold-platinum spot price ratio can be quite instructive, as platinum has been valued at more per ounce than gold at certain times in history. Thus, it is fair to consider equilibrium (1:1) to be the inflection point for whether to buy gold and sell platinum, or vice versa. Anytime the ratio is over 1 – especially if significantly so – platinum may be undervalued.

Is Platinum Eligible for IRAs?

Yes. You can invest platinum in an IRA. Most of the requirements are similar to those for gold and silver IRAs.

Platinum must be 0.9995 pure or greater to be eligible for placement into an IRA. Platinum coins are probably easier to certify, as their purity is specified by statute, and they are backed by the full faith and credit of their sovereign nations.

However, as we mentioned above, there is a greater deal of volatility in platinum prices with respect to gold or silver prices. Thus, it may behoove you to try and time the market before you shoot for IRA-eligible platinum.

How to Sell Platinum

To sell your platinum, you need to do a few things to maximize your returns. The first thing to do is to check the spot price for platinum. As platinum is quite volatile, you may want to take a few days to look for a good opportunity, where it seems to be at the top of the arc.

Bear in mind, however, that there are buy-side (ask) and sell-side (bid) spot prices, and the one charted is the buy-side. The dealer who buys the platinum from you will begin with the sell-side spot price.

Then, you should try to get some information about how much you can expect for your platinum. That information is available online, as some dealers make their likely offers public. You may also be able to contact dealers and receive a quote, though it may not remain valid for long enough.

If you are happy with your offers, though, then sell your platinum, and follow the dealer’s instructions about how to sell the platinum to you. If not, you can head to the coin shop(s) near you, and make your deal there. In either case, though, make sure to follow any shipping or handling instructions exactly as they are given so that the security of your platinum is never compromised.

Trading Platinum with Provident Metals

We’d love to help you buy or sell platinum. Trained counselors at Provident Metals are available around the clock via email (help@providentmetals.com) and the live chat function at the bottom right of this page.

If you’d like a more personal touch, call us at (800) 313-3315. We are available by phone Monday through Friday, 8 AM – 6 PM Central.