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Platinum is rarer than gold by a factor of roughly 30 — yet it often trades below gold's price because industrial demand, especially from the auto industry, drives its market. For investors who understand the cycle, platinum can offer significant upside when auto demand turns or supply tightens.
United States
Platinum is niche in the US beyond bridal and luxury watches.
Platinum (symbol XPT) is quoted in US dollars per troy ounce on the LPPM (London Platinum and Palladium Market) and NYMEX. Roughly 70% of global supply originates in South Africa, with Russia and Zimbabwe providing most of the rest. Today's spot converts to $56.94 per gram and $1,771.00 per troy ounce in USD.
Platinum follows the same troy-ounce convention as gold and silver. Investment-grade bars are typically 1 oz, 10 oz, or 1 kilogram. The Canadian Maple, American Platinum Eagle, and Australian Koala are the main sovereign coins.
Platinum is denser than gold (21.4 g/cm³ vs. 19.3), so the same size ring weighs noticeably more — and costs more in metal.
Auto catalytic converter demand is the dominant driver — especially for diesel engines in Europe and light vehicles globally. When EU diesel sales fell post-Dieselgate and electric vehicles rose, platinum demand softened. Conversely, hydrogen fuel cell vehicles and hybrid car growth are long-term tailwinds. Supply shocks (South African strikes, power cuts, sanctions on Russian output) produce sharp upward spikes. Jewelry demand — especially from China — is a secondary but meaningful factor.
Platinum suits investors who want precious-metal exposure with industrial upside and can tolerate higher volatility. Physical options include 1 oz sovereign coins (highest liquidity) and LBMA-refined bars. ETFs like PPLT offer lower-cost exposure without storage. Jewelry is niche but prized for weddings and luxury watches because of its hardness and hypoallergenic properties.
| Unit | Grams | Price (USD) |
|---|---|---|
| Common | ||
| Troy OunceUS, GB, CA, AU, DE, CH | 31.1035 | $1,771.00 |
| GramSA, AE, EG, TR, DE, FR, ES, IT | 1 | $56.94 |
| KilogramDE, CH, IN | 1,000 | $56,938.90 |
| TolaIN, PK, BD, NP | 11.6638 | $664.12 |
| Asian Units | ||
| BahtTH | 15.244 | $867.98 |
| Tael (HK)HK, MO | 37.429 | $2,131.17 |
| Tael (Japan)JP | 37.5 | $2,135.21 |
| Vori / BoriBD | 11.6638 | $664.12 |
| MashaIN, PK | 0.972 | $55.34 |
| Small Units | ||
| Carat (metric) | 0.2 | $11.39 |
| GrainUS, GB | 0.0648 | $3.69 |
| RattiIN, PK | 0.1215 | $6.92 |
| Date | Price / oz | Change |
|---|---|---|
Mon, Jun 8 | $1,760.00 | -1.73% |
Sun, Jun 7 Closed | — | — |
Sat, Jun 6 Closed | — | — |
Fri, Jun 5 Closed | — | — |
Thu, Jun 4 Closed | — | — |
Wed, Jun 3 Closed | — | — |
Tue, Jun 2 Closed | — | — |
Mon, Jun 1 Closed | — | — |
Sun, May 31 Closed | — | — |
Sat, May 30 Closed | — | — |
Fri, May 29 Closed | — | — |
Thu, May 28 Closed | — | — |
Wed, May 27 Closed | — | — |
Tue, May 26 Closed | — | — |
Where do you think Platinum will move in the next 7 days?
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📈 Bullish
—
⏸ Neutral
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📉 Bearish
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$1,771.00
$56.9389
$664.12
$1,740.0075
$55.9425
$652.4979
$1,801.9925
$57.9353
$675.7421
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