Platinum PLATINUM

Platinum is a precious metal commonly traded on worldwide commodity markets. It has a much shorter history in the financial sector than either gold or silver. It was first introduced into Europe during the 1700s. Today, platinum is mined across the globe but South Africa accounts for the majority of the commercially produced platinum. It has historically been traded on specific exchanges, such as the New York Mercantile Exchange and the London Bullion Market.

Platinum is widely used to make jewellery because of its shiny appearance, and the fact that it is highly resistant to tarnishing. However, one of platinum’s primary uses is in the automotive industry. It is highly effective at converting toxic exhaust fumes into less harmful products, so it is widely used in catalytic converters. It is also used to make thermometers, electrodes, and dentistry equipment.

Platinum is significantly rarer than either gold or silver and its price is fairly volatile, making it an interesting investment for traders interested in speculating. Like other precious metals, platinum may be used by investors to hedge against inflation, deflation, or devaluation. Platinum can be traded through CFDs, which track the price of platinum as a ‘spot’.

Add PLATINUM to your eToro watchlist to keep up to date with Platinum price changes.