Keep Watching the Price of Platinum per Ounce Today

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Though, throughout the ages, people have been investing in gold, there has been a steady increase in the price of platinum per ounce today, and hence many people are opting for investment in platinum. This metal is used in automobile industries as a catalytic convertor and also in LCD TV screens, and is an industrial metal, unlike gold. Buying or selling platinum ETFs can be very simple.

The price of platinum per gram falls below that of gold during periods of financial stress, but when the economy is healthy, the prices again rise beyond gold. Platinum shares in the form of ETFs are a better way to hold platinum than investing bars. This is because the costs incurred for transaction and storage are comparatively less.

Of course, the amount of platinum bullion held in the form of ETFs is less when compared to the gold ETFs, but the reason is that it is a rarer metal with less amounts being mined. The demand for this metal is rapidly increasing and this will cause a rise in the price of platinum per ounce today. The jewelry market is making increasing demands on this precious metal and China is leading this market with its high demand. Many fast-moving economies are increasing their demand for this white metal, due to the fashion trends.

Mining companies also offer platinum shares, and after finding out the price of platinum per gram, one can invest in these. The prices are sometimes very volatile and you stand to make a good profit even with a small change in the price. The prices are dictated by the demand for this metal and hence this makes it necessary to keep a watch on the platinum market. The precious metals usually provide a safe haven to investors, especially when the economy is experiencing a downturn.

The European economy can be a key indicator of platinum prices, as the metal is used in the automobile sector which is dominated by diesel engines. This affects the price of platinum per ounce today; such engines need the use of platinum and not palladium. A rise in the automobile industry will automatically raise the demand for this precious metal, with an increase in its price.

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References:
http://ounceofgold.net/price-per-ounce-of-gold/

http://priceofplatinum.org/price-of-platinum-per-gram/