Platinum in the form of an investment has a very short history governing the financial market. This is in comparison to silver or gold, which were widely known to the ancient civilizations. Specialists and experts in this field are of the view that this metal is around 15 to 20 times rarer in comparison to gold depending on my productions on an annual basis. It is only because of this reason that this metal has almost always been sold at a great price which was higher than gold. This metal is scarcer even in comparison to the other precious metals. The new mine manufacturing totals around five million troy ounces every year. The mine productions of silver and gold are higher and this is the reason why this metal trades at very high per-unit prices.
This metal is traded on the London Platinum and Palladium market and the New York Mercantile Exchange. The price of this metal changes as per its supply and demand. The price of this highly precious metal is twice the price of gold in times of continued economic growth and stability. Its price decreases in times of economic uncertainty. This is due to reduced demand. The price of the metal goes beyond the price of gold mainly because of the increase in the prices of gold. In the spot market, this precious metal is traded with “XPT” code. However, this code is “XPTUSD” when it is settled in US Dollars.
There are different investment mediums used for trading in platinum. These include exchange-traded products, platinum coins and accounts.
The metal is traded in the form of an ETF or exchange-traded fund on the London Stock exchange using LSE: PHPT as the ticker sign. It is also traded on New York Stock exchange using PPLT as the ticker sign. There are even many exchange-traded notes or ETNs available. Some ETNs are completely inverse to what platinum costs. You can get hold of a complete list at the ETFDB stock encyclopedia.
Coins Made of Platinum
Coins made out of this precious metal are also considered one of the most beneficial ways of investing in this metal. However, it is important to note that there is absolutely no craze when it comes to minting coins out of this metal. This is because of the difficulty of the work and even because of the high costs. Coins made out of this metal offer a very prosperous avenue for participation in the commodity market and in possessing collectible coins as well. By making investments in coins made out of this metal, people can easily gain the smartest method of building long-term and short-term wealth. These coins are extremely solid and serve as an unwavering investment from the financial point of view. Investing in these coins offers long-term and short-term benefits to the investors. Investors can see quick returns on investments and it is the volatility of this metal that drives this specific benefit. Because of its market fluctuations, this metal is considered to be highly profitable.