Platinum Spot

Platinum is a precious metal from the platinum group that resists corrosion and remains stable at high temperatures. Its main uses are catalytic converters in the exhaust systems of diesel vehicles, chemical and oil refining processes, glass manufacturing, jewelry and investment products. Hydrogen fuel cells and electrolysis technologies are newer areas watched for platinum demand.

On the supply side, South Africa plays a decisive role, and Russia and Zimbabwe are also among the significant producers. Because of this concentration, production disruptions at mines, electricity supply problems and labor strikes can affect the price. Shifts in demand from the automotive sector are also of close concern to the platinum market.

The platinum per ounce value on Lzzo.com is based on NYMEX platinum futures (PL=F) data obtained via Yahoo Finance and is expressed in US dollars per troy ounce. The futures price can differ from the spot price and from selling prices for physical products; the value shown is not a sales offer.