If there's a broadsheet for precious metals, then one can expect to read gold and silver dominating the front page every day. Not to be outdone, platinum will also have its own share of positive press in the inner pages as high demand from several industries from industrial to automotive to jewelry and health care and so on, continue to rely on platinum because of its plethora of uses.
A rare and non-corrosive metal, platinum consistently possess an expensive value despite cornering a smaller market share as compared to the more popular precious metals of gold and silver. This fact doesn’t diminish the lure of platinum as a popular investment choice.
As world economies shifts to more environment-friendly materials and metals, the demand of platinum is expected to rise because it is considered as an eco-friendly metal. Easy-to-mine while producing a steady supply, the price of platinum—notwithstanding its volatility— is forecasted to rise significantly in the coming years.
Mankind's early use of platinum can be traced back to 1200 BC in ancient Egypt. Platinum was also used by Pre-Columbian Americans to create objects made of gold and platinum alloy from 600 BC to 200 AD.
Among the earliest written reference to platinum appeared in the writings of Julies Caesar Scaliger in 1557 when he described a noble metal found in Mexico.
Extensive research about platinum were done extensively during the entirety of the 18th century in what is known as the "platinum age" in Europe—specifically in Spain.
In modern times, platinum is mined primarily in South Africa and Russia accounting for 80% of the world's supply of platinum. In 2014, there were 218 tonnes of platinum sold with 98 of it used to manufacture vehicle emissions control devices and the rest for jewelry making, petroleum refining, chemical production and other industrial and technology use.
Likened to silver and other precious metals, platinum can be influenced by several factors that may lead to its price volatility or fluctuations in the market. Here are the main factors that usually dictate the prices of platinum:
More investors are opting to invest in platinum and other precious metals through the method of CFD trading or the contract-for-difference derivative instrument.
What is CFD?
CFDs allow investors to speculate on the value of an investment asset (in this case, the platinum) without purchasing assets in ETFs, options, bullions, options or mining shares.
Many regulated brokers and trading platforms such as eToro, offer platinum CFDs.
There are several ways of engaging in CFD trading of platinum. All you need to do is find a reliable broker or CFD trading platform such as eToro to open an account and deposit your fund.
Trading platinum in eToro's CFD trading platform doesn't require any storage fees since you won't be trading any physical platinum.
Currently, platinum has a 52-week range of $824.90 – $1318.20 or a one-year return of 7.34%. Historically, platinum reached its all-time high value of $2,276.00 per troy ounce in March 2008.
The price of platinum at the time that you accessed this page is
If you're considering to invest or trade PLATINUM CFDs, then it would be much simpler to click the button below. This will take you directly to eToro's trading page for this precious metal.
But before you can trade this precious metal on eToro, you'll need to open an account with them and this will only take a few minutes to accomplish.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.