Platinum Spot Price Explained

Platinum Spot Price Explained

What is the Spot Price of Platinum?

Looking to sell platinum at fair market price? Look no further. But first, let’s take a look at what the spot of platinum is. The platinum spot price is the price of platinum by the troy ounce, which has been the standard weight for precious metals since the 1800s in the US and much longer elsewhere in the world.

The spot price of platinum is influenced by several factors including the state of the economy, political events, strength of various currencies, and many other macroeconomic factors. Spot prices are used as reference points for dealers to calculate the price they should charge for physical platinum bullion coins, rounds, and bars.

All of the products on our website are priced based on a fair market price; therefore, you will notice that prices update every few seconds during market hours. This allows customers to make an return on their investment based on the most up to date market conditions possible.

Platinum as a return on Investment

Over the past decade or so platinum prices have increased overall, catching the attention of many investors looking to make a return on investments. Many people look to precious metals such as platinum to help protect themselves against the devaluation of the dollar and fluctuations in the stock market. Platinum, gold, and silver are seen as safe havens of a sort in times of financial and political turmoil.

You can sell platinum coins and bars at fair market value to Cash For Any Coins online with our simple, secure & speedy process. Physical platinum bullion is most commonly found in coin, round, and bar form with several size options for each. Some investors enjoy owning government minted coins while others prefer paying lower premiums for bullion bars and rounds. In any case, there are a vast amount of options available in terms of this investment vehicle.

Speak to us today

Spot prices can be confusing and if you require any further help or guidance, then please contact us today and we’ll be happy to help!

Do you own platinum coins that you want to sell? Here at Cash For Any Coins, we buy platinum coins at above spot prices and our process is quick, safe and secure, get started online today!

Frequently Asked Questions about Platinum

How is the spot price of platinum calculated?

Platinum is traded across multiple time zones and on multiple exchanges such as New York, Hong Kong, Zurich, and Sydney. The platinum spot price is calculated using the most active near month futures contract. This near month futures contract will not always be the front-month contract, but rather the near month contract with the most trading volume. Platinum trades nearly around the clock these days, and like many other commodities, is always in the process of price discovery around the globe.

How often do spot platinum prices change?

The price of platinum is constantly changing based on market supply and demand, currency movements and other factors. The platinum spot price updates every few seconds during market hours. Between domestic and foreign exchanges, spot platinum prices update Sunday through Friday, from 6:00 PM EST to 5:15 PM EST each day. Spot prices remain static during that 45 minutes down period from 5:15 PM EST to 6:00 PM EST each weekday, as well as from 5:15 PM EST on Friday until 6:00 PM EST on Sunday. The price of platinum is in a constant state of discovery and can have extremely volatile periods.

What influences the price of platinum?

Many economic factors affect the price of platinum, including interest rates, macro-economic trends, indexes like as the Dow Jones Industrial Average, monetary and fiscal policy, foreign relations, and more.

Why have trading hours in platinum and other commodities expanded so much in recent years?

Commodities are obviously very widely traded vehicles for end-users, financial institutions and banks, as well as retail investors. With the pace of economic activity and commerce in modern society, it is important that market participants have access to markets where they have financial interests or price risk exposure.

Do platinum coins have any face value? Does this affect the price of platinum coins?

Yes, platinum coins do have face values. The United States platinum eagle, for example, has a face value of $100. This is the highest face value to ever appear on a United States bullion coin. The price of the coins, however, is based on the coin’s platinum content, not the face value

Is the stock market a key driver of platinum prices?

Platinum and precious metals at times exhibit a positive correlation to the equities markets and at other times exhibit a negative correlation. Overall, the correlation between precious metals and stocks and bonds appears to be quite low. This is one of the reasons that some feel precious metals can potentially play a valuable role in portfolio diversification.

How many grams are in a troy ounce of platinum?

Platinum is measured in troy ounces. Each troy ounce contains about 31.1034768 grams which are slightly higher than a standard ounce which is only 28 grams.

How many troy ounces are in a kilogram of platinum?

There are 32.151 troy ounces in one kilogram of platinum.

Can I sell platinum from my IRA?

Yes. We work with a number of precious metals custodians to either liquidate or take a RMD Required minimum distribution which allow the investor to sell physical platinum bullion and receive the IRA tax benefits on the investment.

Cash for Any Coins are experts in the Precious Metals market and have been helping businesses and individuals sell coins, bars and bullion in their possession simply and securely for many years.
We also specialize in IRA Liquidation, RMD, Beneficiary & Inheritance or Spousal Rollover for clients who have Precious Metals within an IRA.