View GoldCore’s 10 Year Platinum Price Chart in pounds per ounce, to help you spot trends and decide when to buy platinum bullion. Adjust the chart to see the 10 year platinum price in British Pounds, US Dollars, Australian Dollars, as well as euros.
GoldCore’s 10 year platinum price chart brings you up-to-the minute price movements for the platinum price. You can see the 10 year platinum price chart in a number of currencies and weights. This will help you to decide when is the best time to execute your platinum trade and add the precious metal to your portfolio.
The platinum price is determined by demand and supply.
Because platinum is seen as a store of value, its spot price is continually fluctuating due to reasons such as:
Supply is particularly tight in the platinum market. The metal is very rare (gold is 30 times less rare) and 70% of the mined supply comes from one country: South Africa. This means that the supply and, therefore, price is extremely sensitive to any political or economic upset that goes on in this country. When looking at the 10 year platinum price chart you might be able to spot the South African miner strike that went on for some time.
Demand is hugely affected by the automotive sector. You will see that the majority of demand for industrial platinum comes from the automotive sector looking to use it in catalytic converters. The metal is used to oxidise hazardous gases into less toxic gases.
Due to market pressures, the price of platinum fluctuates on a minute-by-minute basis. You can watch the 10 year platinum price chart in the currency of your choosing on the GoldCore platinum price chart, and keep informed no matter how frequently the value changes.
Are you interested in buying 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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