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The Price Of Platinum

The price of platinum is subject to fluctuations due to various market factors, such as the economic conditions, the demand and so on.  Platinum is much rarer than gold or silver and since the supply is comparatively low, the price tends to be high.  When the economy is stable and strong, the price of platinum is on the rise.

The automobile industry and Platinum price

The auto industry has a lot to do with the price of platinum.  This is because the platinum metal is mostly non-reactive, being a noble gas, and is used as a catalyst in the auto industry.  The metal is used in the automobile industry for the purpose of producing catalytic converters.

The automobile industry tends to use platinum for the catalytic converters which are present in cars.  This is done because by the use of platinum, it is possible to obtain cleaner automobile emissions.  This is extremely desirable, as it is favorable for the environment, especially in these days of intense atmospheric pollution, which is leading to a lot of global issues.  This automatically strengthens the value of platinum and a corresponding increase in the price.  If the automobile industry slows down due to some reason, then the price of platinum also shows a downward trend.

Mining Conditions

Another factor that can influence the price is the conditions in the mines that produce the metal. There are very few places in the world where platinum is being produced, and hence a mining strike or any other co-related problem, tends to affect the platinum price.

Economic Conditions

When you plan to invest in platinum, you should take care to take into consideration all these factors that can affect the price of platinum.  The small supply of this metal combined with its number of industrial uses, makes it a metal which is very much in demand, which naturally makes it pricier.  However, if people don’t have the money to buy it, the price will naturally drop.  In times of economic depression or turmoil, it is often seen that the prices may drop below that of gold.  This is in contrast to the price of gold, which tends to rise during a period of economic recession.  This is because gold is considered as a safe haven of investment during periods of economic stress.  When the economy regains ground, then the demand for platinum also rises correspondingly and at such times, it is seen that the price rises even more than that of gold.

Apart from this, platinum is also used in the jewelry industry and when the fortunes of this industry fluctuate, a corresponding fluctuation is also observed in the price of the metal.


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The Price Of Platinum

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