Platinum's Price in International Commodity Markets in October 2023 is about 891.90 dollars per troy oz estimated by World Bank. In the Previous Month, September 2023 Platinum worth was 920.90 dollars per troy oz. Last year in October 2022 the price was 914.67 dollars per troy oz.
| Index | Last 12 Months | Nominal US Dollars($/troy oz) | Net-Chg | Percentage-Chg |
|---|---|---|---|---|
| 13 | October 2022 | $ 914.67 | - | - |
| 12 | November 2022 | $ 989.05 | $ 74.38 | 7.52 % |
| 11 | December 2022 | $ 1,010.95 | $ 21.90 | 2.17 % |
| 10 | January 2023 | $ 1,053.25 | $ 42.30 | 4.02 % |
| 9 | February 2023 | $ 958.85 | $ -94.40 | -9.85 % |
| 8 | March 2023 | $ 970.61 | $ 11.76 | 1.21 % |
| 7 | April 2023 | $ 1,050.74 | $ 80.13 | 7.63 % |
| 6 | May 2023 | $ 1,062.73 | $ 11.99 | 1.13 % |
| 5 | June 2023 | $ 970.64 | $ -92.09 | -9.49 % |
| 4 | July 2023 | $ 950.42 | $ -20.22 | -2.13 % |
| 3 | August 2023 | $ 925.00 | $ -25.42 | -2.75 % |
| 2 | September 2023 | $ 920.90 | $ -4.10 | -0.45 % |
| 1 | October 2023 | $ 891.90 | $ -29.00 | -3.25 % |
Platinum Price in 2022 was 961.72 dollars per metric tonne estimated by the world bank. In the previous year, 2021 Platinum Price was 1,091.13 dollars per metric tonne. The net change in Platinum Price in 2022 was -129.41 dollars which is about a -13.46 % decrease in price.
| Year | Nominal US Dollars($/troy oz) | Net-Change | Percentage-Change |
|---|---|---|---|
| 1960 | $ 83.50 | - | - |
| 1961 | $ 83.50 | $ 0.00 | 0.00 % |
| 1962 | $ 83.50 | $ 0.00 | 0.00 % |
| 1963 | $ 80.93 | $ -2.57 | -3.18 % |
| 1964 | $ 88.48 | $ 7.55 | 8.53 % |
| 1965 | $ 98.04 | $ 9.56 | 9.75 % |
| 1966 | $ 99.72 | $ 1.68 | 1.68 % |
| 1967 | $ 110.25 | $ 10.53 | 9.55 % |
| 1968 | $ 117.21 | $ 6.96 | 5.94 % |
| 1969 | $ 124.19 | $ 6.98 | 5.62 % |
| 1970 | $ 132.50 | $ 8.31 | 6.27 % |
| 1971 | $ 123.04 | $ -9.46 | -7.69 % |
| 1972 | $ 127.13 | $ 4.09 | 3.22 % |
| 1973 | $ 152.18 | $ 25.05 | 16.46 % |
| 1974 | $ 184.98 | $ 32.80 | 17.73 % |
| 1975 | $ 169.87 | $ -15.11 | -8.90 % |
| 1976 | $ 159.65 | $ -10.22 | -6.40 % |
| 1977 | $ 158.32 | $ -1.33 | -0.84 % |
| 1978 | $ 260.65 | $ 102.33 | 39.26 % |
| 1979 | $ 442.80 | $ 182.15 | 41.14 % |
| 1980 | $ 679.10 | $ 236.30 | 34.80 % |
| 1981 | $ 447.48 | $ -231.62 | -51.76 % |
| 1982 | $ 328.29 | $ -119.19 | -36.31 % |
| 1983 | $ 423.31 | $ 95.02 | 22.45 % |
| 1984 | $ 357.81 | $ -65.50 | -18.31 % |
| 1985 | $ 292.50 | $ -65.31 | -22.33 % |
| 1986 | $ 465.04 | $ 172.54 | 37.10 % |
| 1987 | $ 555.72 | $ 90.68 | 16.32 % |
| 1988 | $ 530.34 | $ -25.38 | -4.79 % |
| 1989 | $ 509.64 | $ -20.70 | -4.06 % |
| 1990 | $ 471.59 | $ -38.05 | -8.07 % |
| 1991 | $ 375.82 | $ -95.77 | -25.48 % |
| 1992 | $ 359.69 | $ -16.13 | -4.48 % |
| 1993 | $ 374.03 | $ 14.34 | 3.83 % |
| 1994 | $ 405.26 | $ 31.23 | 7.71 % |
| 1995 | $ 424.34 | $ 19.08 | 4.50 % |
| 1996 | $ 397.11 | $ -27.23 | -6.86 % |
| 1997 | $ 394.92 | $ -2.19 | -0.55 % |
| 1998 | $ 372.28 | $ -22.64 | -6.08 % |
| 1999 | $ 376.95 | $ 4.67 | 1.24 % |
| 2000 | $ 544.63 | $ 167.68 | 30.79 % |
| 2001 | $ 529.53 | $ -15.10 | -2.85 % |
| 2002 | $ 539.51 | $ 9.98 | 1.85 % |
| 2003 | $ 691.71 | $ 152.20 | 22.00 % |
| 2004 | $ 845.35 | $ 153.64 | 18.17 % |
| 2005 | $ 896.53 | $ 51.18 | 5.71 % |
| 2006 | $ 1,140.78 | $ 244.25 | 21.41 % |
| 2007 | $ 1,304.94 | $ 164.16 | 12.58 % |
| 2008 | $ 1,574.50 | $ 269.56 | 17.12 % |
| 2009 | $ 1,203.40 | $ -371.10 | -30.84 % |
| 2010 | $ 1,609.75 | $ 406.35 | 25.24 % |
| 2011 | $ 1,719.48 | $ 109.73 | 6.38 % |
| 2012 | $ 1,550.84 | $ -168.64 | -10.87 % |
| 2013 | $ 1,486.55 | $ -64.29 | -4.32 % |
| 2014 | $ 1,383.57 | $ -102.98 | -7.44 % |
| 2015 | $ 1,053.20 | $ -330.37 | -31.37 % |
| 2016 | $ 987.09 | $ -66.11 | -6.70 % |
| 2017 | $ 948.45 | $ -38.64 | -4.07 % |
| 2018 | $ 879.55 | $ -68.90 | -7.83 % |
| 2019 | $ 863.99 | $ -15.56 | -1.80 % |
| 2020 | $ 883.39 | $ 19.40 | 2.20 % |
| 2021 | $ 1,091.13 | $ 207.74 | 19.04 % |
| 2022 | $ 961.72 | $ -129.41 | -13.46 % |
Welcome to our comprehensive guide on understanding and leveraging the platinum price market. In this article, we will delve into the intricate details of platinum pricing, exploring its significance, factors that influence it, and strategies to capitalize on this precious metal. Whether you're an investor, jeweler, or simply curious about platinum, this article will equip you with the knowledge to navigate this dynamic market.
Platinum, known for its rarity and versatility, has been highly valued for centuries. The platinum price refers to the cost of one troy ounce of platinum in the global market. Similar to other precious metals such as platinum and silver, platinum's price is influenced by various factors. Understanding these factors is essential for investors and industry professionals to make informed decisions.
The availability of platinum and its demand in industries such as automotive, jewelry, and technology significantly impact its price. A decrease in supply or an increase in demand often leads to higher prices.
Platinum prices are influenced by macroeconomic factors such as inflation, interest rates, and overall economic stability. During times of economic uncertainty, investors tend to seek safe-haven assets like platinum, driving its price up.
Political instability, trade agreements, and regulations imposed by governments can affect the platinum market. Geopolitical tensions or disruptions in major platinum-producing regions may impact supply, resulting in price fluctuations.
As platinum is traded globally, fluctuations in currency exchange rates can impact its price. A stronger dollar generally makes platinum more expensive for holders of other currencies, potentially affecting demand.
Market sentiment, speculations, and investment trends can influence platinum prices in the short term. Major events or news related to platinum's applications, market forecasts, or changes in investment patterns can trigger price movements.
Platinum can be a valuable addition to an investment portfolio. Investors can consider purchasing platinum bars or coins, investing in platinum-focused exchange-traded funds (ETFs), or trading platinum futures contracts. Conduct thorough research and consult with a financial advisor before making investment decisions.
Platinum's durability, luster, and rarity make it a preferred choice for fine jewelry. Jewelers can leverage platinum's unique properties to create exquisite pieces that appeal to discerning customers. Highlighting the premium quality and timeless elegance of platinum jewelry can attract consumers who appreciate luxury goods.
Platinum's catalytic properties and corrosion resistance make it indispensable in various industrial applications. Promote the use of platinum in sectors such as automotive, electronics, and healthcare, emphasizing its role in reducing emissions, enhancing product performance, and enabling technological advancements.
Given platinum's environmental benefits, raise awareness about its sustainable characteristics. Its use in catalytic converters helps reduce harmful emissions from vehicles, contributing to cleaner air quality. Position platinum as a responsible choice for consumers who prioritize eco-friendly solutions.
Create informative and engaging content that educates the audience about platinum's unique qualities, historical significance, and investment potential. Develop articles, videos, and infographics that cater to different segments, addressing their specific interests and concerns.
In conclusion, understanding the platinum price market is crucial for investors, businesses, and enthusiasts alike. By comprehending the factors influencing platinum prices and implementing effective strategies, one can navigate this market with confidence and potentially reap significant rewards. Whether you aim to invest in platinum, craft exquisite jewelry, or leverage its industrial applications, a deep understanding of platinum's value proposition will be the key to success.
Remember, staying updated with market trends, conducting thorough research, and seeking expert advice are essential steps to making informed decisions in the ever-evolving platinum price landscape.