Commodity Snapshot
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Unit conversion for Platinum Price Today
| Conversion | Platinum Price(Spot) | Price | |
|---|---|---|---|
| 1 Troy Ounce ≈ 31,10 Gram | Platinum Price Per 1 Gram | 31.44 USD | |
| 1 Troy Ounce ≈ 0,031 Kilogram | Platinum Price Per 1 Kilogram | 31443.43 USD | |
| 1 Troy Ounce ≈ 1,097 Ounce | Platinum Price Per 1 Ounce | 891.41 USD |
Platinum
Platinum, chemical symbol Pt, is a greyish-white metal that is traded on the New York Mercantile Exchange, the Tokyo Commodity Exchange and the London Bullion Market. Platinum was once the most expensive of the precious metals traded, maxing out at 1,000 US dollars per troy ounce. That is no longer the case as it has been surpassed by gold. Platinum is both malleable and ductile and can be extracted from ore that contains platinum group elements (PGM). (read more)
These elements include iridium, osmium, palladium, platinum, rhodium, and ruthenium. Platinum can also be extracted from sperrylite and cooperate ores. Because of its high boiling point, and its resistance to water, air and many acids, platinum is used primarily to manufacture automotive catalytic converters, in the chemical and electrical industry and in petroleum refineries. The price of platinum is determined by the global auto industry, air quality regulations, changes in catalytic convertor technology, the availability of substitutes, and investment demand.
