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Ultra-rare industrial metal and investment asset.
Platinum Spot Price
$2,371.50
per troy ounce
At today's spot price of $2,371.50/oz
Per Ounce
$2,371.50
Per Gram
$76.25
Per Kilogram
$76,245.39
Per Pennyweight
$118.58
Historical Price
7-Day Range
$2,146.40 – $2,373.50
30-Day Range
$2,012.50 – $2,373.50
Current Price
$2,371.50
Platinum is one of the rarest elements on Earth, with annual mine production roughly 15 times less than gold. About 70% of global platinum comes from South Africa, making supply sensitive to regional factors including mining conditions, labor relations, and energy availability (Eskom load-shedding).
The largest source of platinum demand is automotive catalytic converters, particularly for diesel vehicles. Platinum converts harmful exhaust gases (carbon monoxide, hydrocarbons, nitrogen oxides) into less harmful substances. Tightening emissions regulations have increased platinum loadings per vehicle over time.
Platinum traded at a consistent premium to gold for most of the 20th century, but has been priced below gold since 2015. This discount reflects reduced diesel vehicle production in Europe, substitution pressure from palladium, and gold's stronger investment demand. Some investors view the platinum-gold discount as a long-term opportunity.
Despite being rarer than gold, platinum has traded below gold since 2015 due to declining diesel vehicle market share (reducing catalytic converter demand), substitution by palladium in some applications, and weaker investment demand compared to gold.
About 40% goes to catalytic converters (diesel vehicles), 30% to jewelry (especially popular in Japan), and the rest to industrial uses including electronics, petroleum refining, glass manufacturing, and emerging hydrogen fuel cell technology.
Platinum offers diversification from gold and silver with exposure to automotive and industrial demand. Its current discount to gold and supply constraints make it potentially attractive for long-term investors who believe diesel or hydrogen demand will stabilize.
Platinum is a naturally white metal that doesn't tarnish. White gold is a gold alloy mixed with white metals (palladium, nickel, or silver) and often rhodium-plated. Platinum jewelry is typically 95% pure, while white gold is 58-75% gold.
A typical diesel catalytic converter contains 3-7 grams of platinum. Gasoline converters use less platinum and more palladium. The exact amount varies by vehicle type, engine size, and emissions standard.
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