Platinum Spot Price

The worth of Platinum is determined by the current spot price. Today’s spot price of Platinum, like all days, is constantly changing according to supply and demand, market conditions and many other variables. However, the price of Platinum could also refer to the total percent change of the spot price, relative to the price at the start of that day.

When looking at the Platinum price chart, you will discover an ounce is not a "regular" ounce. Typically, when referring to ounces, the reference is to avoirdupois ounces. The Platinum spot price is calculated in troy ounces, which are equal to 1.09711 avoirdupois ounces. One troy ounce equals 31.1035 grams.

Platinum is traded at the same price per ounce, in U.S. dollars, no matter where in the world. While Platinum is traded in U.S. dollars, the price can easily be converted to local currencies all across the globe.

The Platinum bid price per ounce is the highest current market offer to sell to a dealer. The bid price is the price to expect when selling Platinum to a dealer.

The Platinum ask price per ounce is the current minimum price for a dealer to sell in the market – or the price dealers will offer to sell Platinum to you.

The spread is the difference between the ask price and bid price, representing the dealer’s profit. If the dealer purchases an ounce of Platinum at $1,000 and sell that same ounce of Platinum for $1,040 on the same day, then the spread is $40.

A premium on a Precious Metal represents the added costs associated with the Platinum product over and above the current spot price. The added costs include factors like production and distribution to cover the dealer’s overhead.

Platinum bullion refers to a product that is valued by and sold mostly for its Platinum content, not containing any collectible or numismatic value. Platinum bullion often appears in the form of bars, rounds and Sovereign coins that are backed by a government. These products are most categorized as either .999 or .9999 fine Platinum bullion.

Many investors see Precious Metals as an opportunity to balance their portfolio, due to their steady value when other investments falter, resulting in investors considering Precious Metals as safe-haven investments. As always, you should decide what investments make the most sense for your goals.

Yes, many investors make the most of their Platinum value by investing in a Precious Metals IRA. Any profits on your Platinum investment can be tax deferred if the proceeds are transferred to another IRA account or kept with your reinvestment custodian, just like with standard IRAs. For any questions regarding eligibility of specific Platinum products in your investment portfolios, please consult your financial advisor.

First, decide what kind of Platinum you’re interested in buying and determine which form you want to purchase. If you are buying Platinum bullion, you have a choice between Platinum coins, bars and rounds – rounds look like coins but are not backed by a sovereign government as currency.

Next, do your research and identify a reputable seller of good standing before making a purchase. Once you have identified a seller, prepare a way to securely protect and store your Platinum. For a small fee, you can store it with a trusted third party such as Citadel – a subsidiary of APMEX – or you may choose to store your Platinum in your own vault or lockboxes at home.

Interested in selling your Platinum? APMEX offers a simple and quick way to sell your Platinum bars or Platinum coins online. Learn how to sell your Platinum today.