The platinum price last year is always interesting to view. If you wish to look at the platinum price last year in order to spot any trends in the price or perhaps to see when is a good time to buy, then you might also be interested in viewing the platinum price for other time frames. Simply select the time period of your choice, using the menu options above the chart.
You can adjust the chart for the platinum price last year to instead enable you to keep track of the price of platinum in real time for up-to-date information. We always have a current pricing per ounce accessible. A variety of factors influence its price, with supply being one of the most crucial. As it is so rare, platinum supply has a substantial impact on the price per ounce.
Platinum is 30 times rarer than gold. It is believed that there is more gold in outer space, on the moon and meteorites, than there is here on earth. The platinum that was straightforward to mine has been removed, as has been the case with many natural resources. The remaining platinum has a higher cost of extraction in terms of both money and the environment. These more difficult-to-reach resources enhance mining costs, which could lead to higher platinum prices in the future.
Whilst the platinum price last year might show some trends, it is also worth looking at industrial information to give you an idea of future demand trends. For example, as platinum is so widely used in catalytic converters you might spot future demand if there is an uptick in expected car production for the next five years.
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