Add new comment

Platinum Price (NYMEX: PL) – Chart, Forecast and Review

Platinum Price (NYMEX: PL) – Chart, Forecast and ReviewHow much does Platinum cost on the NYMEX, COMEX, CME, ICE, LME exchanges - online price charts. Overview and characteristics of platinum futures. Platinum is among the most traded metals in the commodity market. This precious metal is widely used in industry, due to which in the past the cost of platinum exceeded even the price of gold. For trading platinum on the stock exchange, futures contracts and options are most often used as the most convenient tool for profiting from changes in its price.

Simple and lightweight Platinum Futures Live Chart is a powerful free tool that allows you to easily conduct technical analysis online without downloading additional files and applications. In order to meet the needs of the most demanding technical analysts, you can find over a hundred chart analysis tools on our Platinum Futures chart. You can also add any of 80 technical indicators directly to the chart online - in two clicks. The possibilities are endless!

Technical Analysis Platinum Futures

Platinum Futures Technical Analysis widget is a modern handy tool that shows ratings based on technical indicators data. The design of the widget is made in the form of a speedometer, thanks to which you can quickly see the results of the summary technical analysis. You no longer need to use many indicators for analyzing financial instruments, the widget will do it for you. In addition, all rating data are updated in real time. These technical indicators are used for technical analysis: Relative Strength Index, Stochastic, Commodity Channel Index, Average Directional Index, Awesome Oscillator, Momentum, MACD, Stochastic RSI, Williams Percent Range, Bull Bear Power, Ultimate Oscillator, Exponential Moving Average, Simple Moving Average, Ichimoku Cloud Base Line, Volume Weighted Moving Average, Hull Moving Average.

About Platinum

Platinum futures are traded on several commodity exchanges. These include:

The Chicago Mercantile Exchange (CME), which trades supply contracts with the ticker PL in the amount of 50 troy ounces. Platinum is quoted there in US dollars.

Tokyo Commodity Exchange (TOCOM), where platinum trades under the numerical ticker 13. On the Asian platform, the platinum rate is calculated in yen per gram, and the volume of the delivery contract is 500 grams.

The London Metal Exchange (LME), where platinum prices are fixed twice a day, once in the morning starting at 09:45 and once in the afternoon starting at 14:00 (London time).

Platinum is one of the noble metals with useful properties - it is practically not susceptible to aggressive environments, but at the same time it can act as a catalyst in chemical reactions.

Platinum is one of the rarest metals; it is mined several times less than gold - only about 6 million ounces.

The main states involved in the extraction of this precious metal are the Republic of South Africa, which accounts for more than half of the total volume (about 70%), 110-155 tons per year. At the same time, the platinum mined here is the purest. Other countries are forced not only to mine the precious metal, but to create it in the process of mining copper and nickel.

In Zimbabwe, more than 10-15 tons per year are mined by the largest local companies Anglo American Platinum and Impala Platinum Holdings.

Canada produces about 5-9 tons.

The US produces about 4-6 tons of platinum per year, while deposits in Alaska have a downward trend.

The price of platinum today is lower than that of gold, but there is still significant demand for it.

  • African Rainbow Minerals
  • Anglo American Platinum
  • Aquarius Platinum
  • Cuniptau Mines
  • Impala Platinum
  • JCI Limited
  • Lonmin
  • Nornickel
  • North American Palladium
  • Northam Platinum
  • Stillwater Mining Company
  • Wesizwe Platinum

Reports from companies in the leading countries on the extraction and export of platinum can talk about supply and demand, which affect the cost. For example, when PL production declines in South Africa, the value of platinum rises.

The main consumption of this rare metal falls on industry, and more precisely, on the automotive industry (more than 40%), where it is used as a catalyst in exhaust systems.

Also, platinum is used to make chemically resistant dishes, powerful permanent magnets, durable electrical contacts, heating elements and components of microwave technology.

In the chemical industry, the metal is used in the production of hydrogen peroxide, nitric acid, silicones, perchlorates and other substances. In addition, platinum catalysts are used in refineries, including for the production of gasoline. Also, this noble metal is used in the aircraft industry to coat the elements of jet turbines, which makes it possible to increase their service life in aggressive environments.

Platinum is of great importance in medicine, including in the treatment of oncological diseases, as well as in dentistry. An important direction in the use of metal is the manufacture of jewelry. In addition, commemorative coins are still being made from it.

Have Questions?

If you have any questions, then use the comments - and we will answer 100%, the average response time is 24 hours. Please note that your comments are pre-checked by the site administrators - therefore, your comment on the site will be published over time.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.