Influences that affect platinum prices are related to the ones that are usual for precious metals. Political and economical circumstances in South Africa cause the biggest impact on platinum prices. Around 80% of platinum originates from this particular region. On top of that, the production of platinum requires resources which cause the products to cost more than the market price. Also, the fluctuating demand in the automobile industry leaves a mark on platinum prices.
Platinum price reached its peak in 2008 March when the price for an ounce was 2252$.
Whenever the fluctuation of value within other investments is volatile, platinum balances out your portfolio. That is why Platinum is considered a safe investment. Of course, the choice depends on your personal goals and ambitions. Moreover, platinum is associated with prestige in jewellery for its rarity and hardness. Also, this metal has applications in various industries like fertilizers, petroleum or fibreglass.
Platinum price and gold price always changes. The ratio of supply and demand is the biggest price that are behind the rise in precious metal prices. In principle, platinum price and gold price is almost the same. Platinum price used to be slightly higher than the gold price. However, due to the Volkswagen diesel scandal in 2015 platinum price plummeted.
Yes, for example, 1 oz. Austrian Philharmonic 2019 coin features 100€ denomination and 1 oz. Maple Leaf features a 50$ denomination.
Platinum market price remains the same in all countries. For practical reasons, real-time platinum price is valid in all locations. Doesn‘t matter if you purchase platinum online or at physical stores.
