Platinum has a much shorter history in the financial sector than either gold or silver, which were known to ancient civilizations.

Platinum is relatively scarce even among the precious metals. New mine production totals approximately only 5 million troy ounces (150 Mg) a year. In contrast, gold mine production runs approximately 82 million ounces (2550 Mg) a year, and silver production is approximately 547 million ounces (17000 Mg).^[1] As such, it tends to trade at higher per-unit prices.

Platinum is traded on the New York Mercantile Exchange (NYMEX) and the London Platinum and Palladium Market. To be saleable on most commodity markets, platinum ingots must be assayed and hallmarked in a manner similar to the way gold and silver are.^[2][3].

The price of platinum changes along with its supply and demand. During periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold, whereas, during periods of economic uncertainty^[4], the price of platinum tends to decrease because of reduced demand, falling below the price of gold, partly due to increased gold prices. Platinum price peaked near US$2,300 per troy ounce ($74/g) in March 2008 driven on production concerns (brought about partly due to power delivery problems to South African mines). It subsequently fell to US$780 per troy ounce ($25/g) in November 2008 ^[5].

Contents 1 Exchange-traded funds 2 Platinum coin 3 Accounts 4 See also 5 References 6 External links

[edit] Exchange-traded funds

Platinum is traded on the London Stock Exchange as an exchange-traded fund under the ticker symbol LSE: PHPT.

[edit] Platinum coin

Platinum coins are another way to invest in platinum, although relatively few varieties of platinum coins have been minted, due to its cost and difficulty in working.

[edit] Accounts

Most Swiss banks offer platinum accounts where platinum can be instantly bought or sold just like any foreign currency. Unlike physical platinum, the customer does not own the actual metal but rather has a claim against the bank for a certain quantity of metal. Since July 2009 GoldMoney has offered platinum as an alternative to gold and works on a similar principle.^[6]

[edit] See also

• Gold as an investment
• Silver as an investment
• Palladium as an investment

[edit] References

[edit] External links

• Information about Platinum as a commodity from New York Mercantile Exchange
• London Platinum and Palladium Market