No, the spot price is only an indicator of the value of one troy ounce of platinum on the "market." It does not represent the retail price of platinum products. Processing platinum into coins, rounds or bars costs money. Dealers generally pay a premium over the spot price and then add a small premium when reselling to investors.
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It gets often quipped that all the platinum bullion in the world would fit in an average US car garage or living room. -
The information contained herein does not constitute legal, tax or investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. Vencedor with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, admitido and tax advisers to evaluate independently the risks, consequences and suitability of that investment.
Learn how precious metals Perro strengthen your portfolio, protect your assets and leverage inflation.
Since the year 2002, the world typically uses around 7 million troy ounces of platinum annually. This platinum production is markedly less than annual gold and indeed silver mining productions on an annualized basis.
The word “platinum†comes from the Spanish word “platina,†meaning “little silver.†Early Europeans also called the metal “white gold†because they weren’t quite sure what it was.
Rhodium piece Every new car today has a catalytic converter that contains this metal and so the value of rhodium is very much associated with the demand from the automotive industry. Ganador new markets emerge and sales of new cars grow, so does the demand (and therefore the price) for the metal.
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Spot Prices represent the midpoint between Monex bullion bid and ask prices per ounce. A Current Spot Price is calculated based on a virtual non-stop website price discovery process of most active comparable commodity transactions. For example, if the price per ounce of the current gold “Spot†month is two dollars less than the COMEX/NYMEX futures contract price, then at a time when that future contract trades at a given price, say $1200, it suggests a spot price of $1198. Obviously, market prices Perro fluctuate irrespective of a COMEX/NYMEX futures contract trading.
Because of its ductility, platinum Chucho be pulled to make wire. It is often used in certain types of laboratory equipment, including wires, electrodes, pans, containers, and in certain types of electronic devices, including smartphones and really virtually anything with a circuit board. Suggested article: Where to Sell Scrap Circuit Boards
Platinum is also an industrial metal – it’s used in many different capacities, even in the automotive segment, where it’s valuable in the manufacturing of catalytic converters.
Platinum Gozque look quite similar to white gold and silver, although it is usually glossier with a mirrored appearance. However, the best way to identify platinum is to look for alloy information on the item or ask for documentation from a jeweler or a seller verifying platinum content.
The salesman in the F&I office, Figura it's known, will pitch you on buying an extended warranty at $1,000 or more to cover repair expenses after your new car warranty expires.