GoldCore recommends investors use our 5 year platinum price chart to view the platinum rate in a range of currencies and time periods. You can adjust the chart to show you the 5 year platinum price chart in Pounds (GBP), Euros (EUR), US Dollars (USD) and Australian Dollars (AUD).
The chart above shows the five year platinum price in GBP per ounce. You can view the five year platinum price in any currency shown above as well as in grams, instead of ounces.
We recommend viewing the five year platinum price chart if you are considering investing in platinum and would like to see the trends and drivers of the market. The five year platinum price chart can give you a good idea of what drives the platinum price as well as how the value of your portfolio has or would have been affected.
Like most precious metals, the platinum price is affected by the demand and supply. Supply of platinum is notoriously tight and very, very difficult to affect according to demand. The metal is 30 times rarer than gold. More of it can be found on the moon and meteorites than is left to mine in the earth’s crust. And that which is there to be mined, is hard to reach as all of the easy stuff was mined long ago. Platinum is also primarily (70%) mined in South Africa. So, when looking at the five year platinum price chart try and identify any upset within the supply side (such as the mining strike) which would have affected the price.
Demand for platinum is growing as more industries realise its usefulness. It is primarily used in catalytic converters as it does a brilliant job in converting the hazardous gases into ones that are less so, in automobile engines. You will also be able to spot changes in car demand, when looking at the five year platinum price chart, so influential is the automotive industry on the metal’s demand.
Do you want to buy gold or buy silver in UK? If you have any questions, send us a message by live chat, email, or phone and one of our experts will answer.
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