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Market Price of Platinum

In order to facilitate buying and selling of platinum, in the form of stocks, certificates, bars and coins, the market price of platinum is updated on a daily basis at various online sites.  Since gold, silver, platinum, palladium are precious metals, there are many people interested in investing in these precious metals and they would like to know the daily price movements, in order to purchase or sell at the right moment.

Accessing the Market Price of Platinum online

The spot prices are constantly updated every few minutes throughout the day during the open market hours at these websites.  There are different commodity markets for the various precious metals.  However, due to difference in timings throughout the world, you will see that the chart prices or the market price of platinum continues to fluctuate even after your local country market is closed.  You can even refresh or reload your page, in order to get the latest price of platinum on the website.

There is a strong correlation between platinum and gold movement, and this can be observed when you see the market price of platinum and compare it with that of gold.  Most of the changes in the price of platinum can be explained by the daily changes in gold prices.  But this may not be the case during times of economic recession, when there is a general panic and people stop buying the precious but expensive platinum metal, and start selling all assets.

Platinum prices during Economic recession

During times of recession the industrial demand for the precious metal platinum decreases.  Due to this fall in consumption and development, manufacturers tend to purchases fewer amount of goods and make use of the platinum present in their inventories, instead of investing in newer and fresher stock of the metal.  This lowers the demand for the metals and puts the platinum market in a surplus, which automatically sends the market price of platinum plummeting.  However, when the economy rebounds, then there is a greater demand in the jewelry market as well as the automobile industry and platinum again returns to the deficit situation, which will send the prices higher.  This brings profits to the investors as well as the miners who are bringing the metal from the ground.

So from a trading perspective, it makes sense to invest in platinum.  It is not jewelry and the auto industry alone that require platinum, though they are the bigger demand sectors. There are a whole lot of other industries such as turbine blades and medical sensors where platinum is used to a great extent.

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Market Price of Platinum

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