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Price of Platinum Per Oz

Keep yourself informed

Many investors have been examining the platinum market and investment options in it, after going through the price of platinum per oz.  Platinum can be quite an expensive investment and you need to equip yourself with all possible information regarding the platinum market before entering it. The price can be quite unpredictable with sudden dips and turns, depending on the economy.

You need to learn more about the spot prices, which is the current price of platinum per oz, in order to know how much to pay when you buy.  By getting more information, you can avoid scams and disreputable dealers.  It is far more expensive than gold and hence you must study the market thoroughly in order to know the trend of the metal. Physical platinum in the form of coins and bars should always be bought from reputed dealers. When buying ETFs or stocks, always make verifications regarding the dealing company’s history and also read customer reviews before investing.

Increasing uses of Platinum

Right now platinum is being used in thermometers, petroleum refining, catalytic converters, electronics, jewelry, dentists and so on.  More and more applications are being discovered and this can result in an increase in the price of platinum per oz.  According to many financial analysts, the years to come will be the year of the platinum group of metals.  Platinum is such a rare metal that the US government calls it a strategic metal and even banned its ownership during the past.  The industrial demand is soaring while the production is lagging, which will create an imbalance, especially with an increase in diesel vehicles in the global market.  The application of platinum in the transport sector is very environmentally friendly and it also being needed for applications in fuel cells for combating global warming.

Likely rise in Price

In the last few years, there has been a growing investment demand for platinum by private investors and mutual funds, through futures and ETFs.  Recently, Platinum ETFs have started in Zurich and London, and many feared that this would make the demand outstrip the supply and cause a price increase.  This is further intensified by the fact that the major sources of supply are only in South Africa and Russia, which supply 90% of the total platinum.

AS the industrial as well as investment demand for platinum continues to rise, with the mine supply remaining almost the same, it is surely on the cards that the price of platinum per oz is likely to rise.  You can buy shares, ETFs or coins and bars for investing in platinum.

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Price of Platinum Per Oz

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