We constantly update our platinum price charts for platinum, gold and other precious metals across multiple currencies to help investors make educated decisions on the best time to buy and sell metals. Our chart will help you easily identify trends over time in the platinum prices, keep you up to date with market movements and allow you to see spot prices immediately.
Our platinum price chart shows current, recent and historical prices, giving you the opportunity to track the platinum spot price and identify the best time to make your investment.
We provide real-time platinum price updates and historical data that allows you to see how the platinum spot price changes over time and to identify long-term pricing trends.
When viewing the platinum price chart on GoldCore, you may pick between four different currencies below the chart: Euros, British Pounds, US Dollars, and Australian Dollars.
GoldCore quotes a live platinum spot price per ounce in the United Kingdom. The current spot price for an ounce of platinum is quoted at the top of this page. This is the pound sterling price per ounce. Whilst platinum is traded on the international markets in US dollars, this price has been converted using the exchange rate between the pound sterling and the US dollar. This has been done for the convenience of UK investors who want to buy and sell platinum coins and bars using their British currency.
The price for an ounce of platinum in the United Kingdom can be found at the top of this page. Platinum is priced in troy ounces, which differ from regular ounces. Whenever you see a reference to the price of an ounce of platinum, it is the troy ounce price. This is the wholesale price against which all retail platinum products are priced. It makes it easy to compare the prices of the different silver products on offer.
GoldCore provides the current platinum rates per ounce in the United Kingdom in pounds Sterling, but can also be shown in Euros, US Dollars and Australian Dollars, simply by selecting the currency of your choice.
Platinum is traded 24 hours a day, Monday to Friday. It is traded across the globe and whilst it is one of the four precious metals the market is significantly smaller than those of gold and silver.
The platinum price is constantly changing and reflects the equilibrium between supply and demand of the buyers and sellers of physical platinum and platinum derivatives. As it is a relatively small market and is a largely industrial metal it is more responsive to demand and supply fundamentals than other precious metals might be.
There are four main drivers of platinum demand: the automotive industry, other industrial uses, jewellery and investment. Its unique physical properties make it extremely valuable across a number of sectors.
Platinum is about 30 times rarer than gold and is difficult to mine as it is found deeper into the Earth's crust. As supply predominantly comes from two countries, Russia and China, political stability plays a big part in the price fundamentals.
Investment demand is the smallest segment of demand for platinum, but it does hold similar properties to gold when looked at as a monetary metal. Whilst it might be more volatile it is still widely considered to be a hedge against inflation and other economic risks.
The price of platinum is quoted in troy ounces.
Troy ounces are often abbreviated to "T.Oz." or just "Oz." A troy ounce is different to a standard (avoirdupois) ounce, as they are slightly heavier. 1 troy ounce = 31.1 grams, whereas one standard ounce = 28.35 grams.
Platinum is priced and traded internationally in US dollars. It is the US dollar price of platinum that is referenced in the financial media. To determine the platinum price in your national currency a conversion at the exchange rate between the US dollar and your national currency, is required. We have conveniently done this for both Euros and pounds Sterling on this page.
The London Metal Exchange publishes the LBMA Platinum Price twice a day, at 09:45 GMT and 14:00 GMT, which is used as a basis for platinum pricing.
When purchasing a bar that is measured in grams, it is necessary to know the platinum price per gram. As platinum is priced in troy ounces and a troy ounce is equal to 31.1 grams, to determine the platinum price per gram, we divide the troy ounce price by 31.1.
A troy ounce is equal to 31.1 grams. So, to work out the 1kg platinum price in the UK simply divide 1,000 by 31.1 and multiply by the current platinum spot price (available at the top of the page) then add or subtract the current premium for the bar.
We calculate the price of our bars based on three components:
The platinum spot price is the price of an ounce of pure platinum available for immediate delivery or delivery 'on the spot'. It is typically determined by the best bid and offer for platinum as offered by large bullion banks trading in real time throughout the world and quoted by data providers such as Thomson Reuters and Bloomberg.
The weight and purity of the platinum. It can be 0.999 or 0.9999 purity depending on the weight of the platinum bar.
The platinum bar premium is the percentage adjustment that is added or deducted from the platinum spot price. The premium on platinum bars is determined by the costs of production, refining, fabrication, minting and the logistics of making the platinum bars available for sale in the UK. The price of a platinum bar is also impacted by supply and demand and a number of bars of platinum being bought.
The platinum spot price is the price of an ounce of pure platinum available for immediate delivery or delivery 'on the spot'. It is typically determined by the best bid and offer for platinum as offered by large bullion banks trading in real time throughout the world, across exchanges and quoted by data providers such as Thomson Reuters and Bloomberg.
Since it is viewed as a store of value, the spot price of platinum constantly fluctuates based on factors like:
The price of platinum is volatile and can alter on a minute-by-minute basis due to market forces. On the GoldCore platinum price chart, you can track the platinum price in the currency of your choice, and stay in the know no matter how often the value changes.
It is the front month futures contract traded on the futures exchanges that has the most volume that tends to determine the spot price of platinum today. Sometimes this contract can be the current month or it might be two or more months out in time. Generally the nearest contract has the least volume as it is closest to expiring and so positions may have already been rolled. So we look to the contract with the most volume as this is where participants are trading for either hedging or speculation purposes. This month is referred to as the spot month.
Platinum is priced and traded internationally in US dollars. It is the US dollar price of platinum that is referenced in the financial media. To determine the platinum price in your national currency a conversion at the exchange rate between the US dollar and your national currency is required. We have conveniently done this for both Euros and pounds Sterling on this page.
The platinum futures price is the price at which a futures contract for platinum trades. To make it easier for those involved to guarantee the price at which they can buy or sell their platinum in the future they can buy or sell a futures contract through an exchange. Standard platinum futures contracts on COMEX are for 50 ounces of platinum agreed for settlement on specific days of the year.
The platinum futures price represents the price you will pay for an ounce of platinum delivered at that future date. A futures price is usually more than the spot price because it must account for the risk and uncertainty in future movements as well as the interest or yield foregone.
There is never an ideal price to buy platinum. The platinum price represents underlying influences in the platinum market which includes investor sentiment and confidence in the economy as well as supply and demand dynamics.
Whilst platinum is a precious metal like gold, it is primarily an industrial metal which significantly affects its performance and outlook. When considering the platinum price, investors should focus on the metal's fundamentals such as the metal's scarcity and vulnerability to both economic and geopolitical risks.
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