What it is
A dense, silvery precious metal. It is used in catalytic converters, above all for diesel engines, in jewellery, and in the chemical, glass and hydrogen industries.
How it is usually quoted
US dollars per troy ounce.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
The London over-the-counter market and CME (NYMEX).
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Vehicle production and emissions rules
- Mining conditions in South Africa, including power supply and labour disputes
- Jewellery demand, especially in China
- Substitution between platinum and palladium
- Buying of bars, coins and funds by investors
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
South Africa produces most of the world’s platinum. Russia, Zimbabwe and North America follow.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Platinum is one of the 7 commodities GIO4X lists as instruments. It appears as XPT/USD (Platinum / US Dollar), in the Metals class. Spot platinum priced in US dollars per troy ounce. Demand is led by industrial and automotive uses.
The contract and its published conditions are set out on the instrument page, where they are labelled as indicative. They are not repeated here.
XPT/USD instrument pageMetals at GIO4XContract specifications
Words worth knowing
Tools for the GIO4X instrument
The calculators work on the figures you enter. They apply to XPT/USD as GIO4X lists it, not to the exchange contracts named above.
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.