Platinum Price Chart

Platinum has numerous industrial applications due to its unique properties. It’s widely used in automotive catalytic converters, which account for about 50% of annual demand.  

Other major industrial uses include chemical manufacturing, electronics (e.g., computer hard disks, LCDs), petroleum refining, and medical devices. Platinum is also crucial in the production of fertilizers, plastics, and even some cancer treatments. 

While both are precious metals, platinum and gold have different investment characteristics. Platinum is generally more volatile than gold due to its higher industrial demand. It’s rarer than gold, which can potentially lead to higher prices when demand increases.  

However, platinum’s price can be more sensitive to economic cycles, especially in the automotive industry, whereas gold is often seen as a more stable safe-haven asset. 

Several key factors affect platinum prices: 

1. Automotive industry demand, particularly for catalytic converters 
2. Industrial demand in various sectors 
3. Supply constraints, as platinum is mined in only a few countries 
4. Global economic conditions 
5. Currency fluctuations, especially the US dollar 
6. Investor sentiment and speculative activity